Kholodilin, Konstantin A.; Michelsen, Claus; Ulbricht, Dirk - 2014
local nature of housing markets, it is not clear to what extent the bubble, if any, is spread across different cities. In … this paper, we test for speculative house price bubbles in 127 large German cities over the last 20 years. Along with … explosive price increases in many cities, especially for the case of newly built housing. However, only in few urban housing …