The ratio of new house prices to employment costs remained below average during much of the recovery and only by mid-2014 had returned to its
preboom level (Figure 5).
For example, credit scores on newly originated mortgages remain well above their
preboom levels, as you can see in the slide (Figure 7).
Bringing current noninterest spending back to
preboom levels would save more than 3 per cent of GDP in the GCC region.
The
preboom period from 1990 to 2002 was characterized by several runs of moderate-to-strong construction growth punctuated by several moderate retrenchments.
The reversion constitutes the bust and leaves the inflated economy at its
preboom level of employment and output.
There was often no value benchmark showing how far current estimates of the market value had diverged from those values originating in the
preboom phase.
The tranquility of
preboom southern California was gone forever.
Preboom. Born before 1946 (the start of the postwar baby boom), preboomers value safety, security, and planning for the future.
As shown in Table 1, however, the total percentage increases for these states during the
preboom economic-recovery period (8.9% and 8.7% respectively) were less than half that of the United States.