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Housing boom-bust cycle during 2000-2006

  • house prices and price/rent ratios increase by almost 50%
  • household debt/GDP takes a discrete step up
  • homeownership rate increases from 65% to almost 70%

Housing boom-bust cycle during 2007-2011, these trends get reversed

  • house prices and price/rent ratios fall
  • households reduce their debt, in part through default
  • homeownership rate below 64%

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