Housing Bubble
Prior to the historic housing bubble that formed in or around 2001 due to loose credit and irrational exuberance, the term DOMP was practically a mystery to anyone other than real estate industry insiders.
When the Housing Bubble began to rapidly deflate in late 2005, the inventory of homes for sale exploded, which caused both sales and prices to fall well below levels predicted by leading economists. These economists were frequently separated into varying levels of respect depending on their affiliation with the REIC, because the National Association of Realtors (NAR) economists were caught giving incorrect predictions about the state of the housing market despite what was actually happening in many U.S cities.
Read more about this topic: DOMP
Famous quotes containing the words housing and/or bubble:
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