Solved: Explain the broad decline in house prices, Macroeconomics

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Explain the broad decline in house prices

Question:

According to the Federal Housing Finance Agency house price index, U.S. housing prices declined throughout 2008 and 2009. What are two demand determinants and two supply determinants that might explain the broad decline in house prices that occurred in those years? Is the market currently in equilibrium?

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Macroeconomics: Explain the broad decline in house prices

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