Why Did the Housing Boom of 1997-2006 Show Evidence of Time

Multiple Choice

Why did the housing boom of 1997-2006 show evidence of time bunching? I. As banks began to increase their portfolio of mortgage loans, more and more banks began to offer fast mortgage loans in hopes of making more profit. II. As builders saw the increase in home building, they also jumped on the bandwagon and started building new homes in hopes of making greater profits. III. As consumers saw other consumers purchasing houses in anticipation of rising prices, they also purchased new homes in hopes of increasing their wealth.

A) I only
B) I and II only
C) II and III only
D) I, II, and III