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Economic Perspectives, Vol. 3, No. 4, 1977
Bull Market in Homes
Financial counselors have long advocated home ownership as a prime investment for the typical family. The wisdom of this advice has seldom been demonstrated so conclusively as in the past two years. Both starts on new single-family homes and transactions in existing homes have been at a record pace in recent months, and prices have increased sharply—much faster than the general price level.

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