Amsterdam had three large real estate bubbles from 1582 to 1810. The real estate market was entirely different 200-400 years ago but those Amsterdam bubbles shared at least two similarities with modern real estate bubbles.
Changes in the amount of mortgage money chasing homes, however, was not one of the similarities because mortgages were uncommon in Amsterdam back then. Credit booms are not necessary for real estate booms but an increase in the amount of money chasing homes is.
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