*Joris* schreef op 11 juli 2014 08:04:
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Suppose, for whatever reason, people expect house prices to rise. It makes
sense for people to beg or borrow to buy houses because they expect to make capital gains by holding onto an asset whose price is on the ascendant. When many people do this, the price of homes rises and confirms their beliefs, which in turn lures more people into buying or investing in houses. This kind of a spiral which has nothing more to it than people’s expectations feeding into more expectations can cause huge price rises. When the bubble eventually bursts and prices return to a more realistic level a whole lot of people who had bought the home at a high price expecting it to go higher lose out. The deflation of such bubbles has ravaged lives through the history of humankind.