The 2008 financial crisis was one of the worst in the history of mankind. A key driver of the crisis was something that analysts and financial experts called the “housing bubble”. Put in short, during the early 2000s there was a sharp decrease in interest rates for home loans. As Investopedia puts it, “​The vast majority of loans were adjustable-rate​ ​mortgages with low initial rates​”.

The subsequent madness of buying homes was followed by house prices being driven up. When it became apparent to homeowners that prices might fall soon and they were living in a “bubble”, unprecedented selling of houses started, which drastically buried the prices, with people across the country increasingly finding themselves unable to pay off mortgages. And the rest is history.

House prices are a crucial moving part of every economy since it talks about the spending power of people and serves as a key economic indicator. For our project, we have chosen a dataset that provides us with housing prices and multiple other features/characteristics associated with a house that are potential drivers. Being able to identify the key drivers and subsequently predict house prices is what our project will aim to tackle.