Which of the Following Statements Is NOT True

Multiple Choice

Which of the following statements is NOT true?

A) The sharp decline in housing prices that first appeared in the U.S. during 2006 also spread to other countries around the world.
B) The housing price bubble that burst in 2006 was the first housing bubble in U.S. history.
C) One reason for the formation of the housing price bubble was an unfounded belief that housing prices always increased over time.
D) Speculative demand was an important contributor to the most recent housing price bubble.