Janssen, Jos; Kruijt, Bert; Needham, Barrie - In: Journal of Real Estate Research 9 (1994) 2, pp. 237-252
A change in market conditions can trigger a cyclical response in the housing market, a cycle in both prices and number of transactions. This is caused not only by production lags but also by the reactions of buyers and sellers. The fact that many buyers are also sellers, and vice versa, has a...