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Abstract

In late 1992 and early 1993 lumber prices increased dramatically in the United States. Home builders argued that the price increase would dramatically increase the cost of housing and that it was due in large part to recent restrictions on logging in the Pacific Northwest that were intended to protect the habitat of the spotted owl, an endangered species. Environmentalists argued that other factors were to blame. This case can be used to discuss the causes and effects of price increases and speculation bubbles

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Abstract

In late 1992 and early 1993 lumber prices increased dramatically in the United States. Home builders argued that the price increase would dramatically increase the cost of housing and that it was due in large part to recent restrictions on logging in the Pacific Northwest that were intended to protect the habitat of the spotted owl, an endangered species. Environmentalists argued that other factors were to blame. This case can be used to discuss the causes and effects of price increases and speculation bubbles

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