Why is a bubble more likely to occur in the housing market rather than in the market for automobiles or the market for refrigerators?

Why is a bubble more likely to occur in the housing market rather than in the market for automobiles or the market for refrigerators?

1. Why is a bubble more likely to occur in the housing market rather than in the market for automobiles or the market for refrigerators?
2. Panel (b) of Figure 1.3 on page 15 shows the Case-Shiller price index of houses. This index was developed by economists Karl Case of Wellesley College and Robert Shiller of Yale University. Many economists consider changes in the average price of houses in the United States to be difficult to measure. What challenges might exist in accurately measuring housing prices?

Why is a bubble more likely to occur in the housing market rather than in the market for automobiles or the market for refrigerators?

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