The "housing bubble" discussed in the text book refers to:
A. housing prices rising much more quickly than the rest of prices in the economy.
B. an unexplained increase in the demand for houses which caused the prices of houses to rise.
C. a supply shock to the housing market, which caused housing prices to increase.
D. housing prices within a certain area of the U.S. rising disproportionately with the rest of houses in the economy.
Answer: A
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