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Glaeser, Edward L. - 2008

of housing bubbles that predicts that places with more elastic housing supply have fewer and shorter bubbles, with … smaller price increases. However, the welfare consequences of bubbles may actually be higher in more elastic places because …

Persistent link: https://www.econbiz.de/10012464454

A Real Estate Boom with Chinese Characteristics

Glaeser, Edward - 2016

Chinese housing prices rose by over 10 percent per year in real terms between 2003 and 2014, and are now between two and ten times higher than the construction cost of apartments. At the same time, Chinese developers built 100 billion square feet of residential real estate. This boom has been...

Persistent link: https://www.econbiz.de/10012455891

Speculative Fever : Investor Contagion in the Housing Bubble

Bayer, Patrick - 2016

, abound. While the role of investor contagion in asset bubbles has been explored extensively in the theoretical literature …

Persistent link: https://www.econbiz.de/10012456609

Housing Bubbles

Glaeser, Edward L. - 2014

Housing markets experience substantial price volatility, short term price change momentum and mean reversion of prices … bubble. In this paper, we review the stylized facts of housing bubbles and discuss theories that can potentially explain … bubbles. Many non-rational explanations for real estate bubbles exist, but the most promising theories emphasize some form of …

Persistent link: https://www.econbiz.de/10012458241

The Effects of the Saving and Banking Glut on the U.S. Economy

Justiniano, Alejandro - 2013

We use a quantitative equilibrium model with houses, collateralized debt and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one fourth and one third of the increase in...

Persistent link: https://www.econbiz.de/10012459026

What Explains House Price Booms? : History and Empirical Evidence

Bordo, Michael D. - 2013

In this paper we investigate the relationship between loose monetary policy, low inflation, and easy bank credit with house price booms. Using a panel of 11 OECD countries from 1920 to 2011 we estimate a panel VAR in order to identify shocks that can be interpreted as loose monetary policy...

Persistent link: https://www.econbiz.de/10012459077

Rational Housing Bubble

Zhao, Bo - 2013

This paper studies an economy inhabited by overlapping generations of homeowners and investors, with the only difference between the two being that homeowners derive utility from housing services whereas investors do not. Tight collateral constraint limits the borrowing capacity of homeowners...

Persistent link: https://www.econbiz.de/10012459307

Wall Street and the Housing Bubble

Cheng, Ing-Haw - 2013

We analyze whether mid-level managers in securitized finance were aware of the housing bubble and a looming crisis in 2004-2006 using their personal home transaction data. To the extent that the practice of securitization may have led to lax screening of subprime borrowers, we find that the...

Persistent link: https://www.econbiz.de/10012459757

The 1920s American Real Estate Boom and the Downturn of the Great Depression : Evidence from City Cross Sections

Brocker, Michael - 2013

In the 1929-1933 downturn of the Great Depression, house values and homeownership rates fell more, and mortgage foreclosure rates were higher, in cities that had experienced relatively high rates of house construction in the residential real-estate boom of the mid-1920s. Across the 1920s, boom...

Persistent link: https://www.econbiz.de/10012459809

What Have They Been Thinking? Home Buyer Behavior in Hot and Cold Markets

Case, Karl E. - 2012

changing public understanding of speculative bubbles …

Persistent link: https://www.econbiz.de/10012460259