Analysis of information sources in references of the Wikipedia article "Economic bubble" in English language version.
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The worldwide rise in house prices is the biggest bubble in history. Prepare for the economic pain when it pops.
When asset prices collapsed, highly leveraged financial institutions failed, leading to fire sales and a large-scale financial crisis with severe repercussions for the real economy. Lending booms in the banking sector, especially when accompanied by decreasing lending standards...make the occurrence of banking crises more likely, and banking crises are a major determinant of the severity of a crisis.
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