Leveraging ANOVA and Kruskal-Wallis Tests to Analyze the Impact of the Great Recession on Housing Prices
In the world of real estate, numerous factors influence property prices. The economy, market demand, location, and even the year a property is sold can play significant roles. The years 2007 to 2009 marked a tumultuous time for the US housing market. This period, often referred to as the Great Recession, saw a drastic decline in home values, a surge in foreclosures, and widespread financial market turmoil. The impact of the recession on housing prices was profound, with many homeowners finding themselves in homes that were worth less than their mortgages. The ripple effect of this downturn was felt across the country, with some areas experiencing sharper declines and slower recoveries than others.
Given this backdrop, it’s particularly intriguing