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The Role of the Housing Sector in the Fluctuations of the US Economy 2000-2013
This paper provides an analysis of the impact of the housing sector on the U.S. recovery after the Global Financial Crisis and the reasons of the crisis itself. The Federal government faced an uncommon situation where the driver of the economy became itself the reason of the downturn. A large scale of mortgage loans and the negative expectations of the population reinforced the consequences of the crisis. The findings show that although the boom in the sector and following decrease was at the national scale, the depth of the crises differs from state to state and depends on specified factors. In contrast, the recovery of house prices is more complicated to define. It is mostly due to economic specific of each state.Key words: the housing market, the U.S. recovery, mortgages, population expectations.