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Bursting Bubble Activity In general, a family can increase the percentage of its income that it spends on housing only if some combination of the

Bursting Bubble Activity

In general, a family can increase the percentage of its income that it spends on housing only if some combination of the following three thing happens. (1) its income increases, so it can afford to spend more of it on housing; (2) it cuts expenses in other areas; or (3) it borrows more money. Which of those three happened in most cases during the house bubble explain how you know.

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