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I moved the sentence "According to a 2020 study, the main driver behind shifts in house prices were shifts in beliefs, rather than a shift in underlying credit conditions." This is a single study. A comprehensive review considers this paper and other "belief" explanations but leans towards the easy credit variables. It concludes that "The results are consistent with the interpretation that excess credit supply fueled both speculation and demand for housing more generally." But acknowledges the debate isn't over.
https://www.sciencedirect.com/science/article/pii/S0304405X20301811Jason from nyc (talk) 01:18, 6 September 2022 (UTC)[reply]