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Home prices are climbing alright, but not for the reason you might think

By Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University

It’s tempting to think home prices are soaring because there aren’t enough homes.

But that can’t explain the sudden takeoff from about the year 2000, the sudden takeoff from about 2013, and again now – against expectations – the stratospheric takeoff in the wake of the COVID recession.
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