House Price Expectations
This study examines short-, medium-, and long-run price expectations in housing markets. We derive and test six hypothesis about the incidence, formation, and relevance of price expectations. To do so, we use data from a tailored household survey, past sale and rental offerings, satellites, and from an information RCT. As novel findings, we show that price expectations exhibit mean reversion in the long-run. Moreover, we do not find evidence for biases related to individual housing tenure decisions or regret aversion. Confirming existing findings, we show that local market characteristics matter for expectations throughout, as well as aggregate price information. Lastly, we corroborate existing evidence that expectations are relevant for portfolio choice
Year of publication: |
[2022]
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Authors: | Gohl, Niklas ; Haan, Peter ; Michelsen, Claus ; Weinhardt, Felix |
Publisher: |
[S.l.] : SSRN |
Subject: | Immobilienpreis | Real estate price | Erwartungsbildung | Expectation formation | Rationale Erwartung | Rational expectations | Wohnimmobilien | Residential real estate | Inflationserwartung | Inflation expectations |
Saved in:
freely available
Extent: | 1 Online-Ressource (36 p) |
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Series: | DIW Berlin Discussion Paper ; No. 1994 |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 2022 erstellt |
Other identifiers: | 10.2139/ssrn.4020245 [DOI] |
Classification: | R21 - Housing Demand ; R31 - Housing Supply and Markets |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10013307319