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Using Locational Equilibrium Models to Evaluate Housing Price Indexes
Sieg, Holger - 2000
This paper analyses how the properties of locational equilibrium models can be used to evaluate approaches for constructing price indexes for heterogeneous houses. Housing markets play a key role in locational equilibrium models. Prices for houses determine that implicit costs that households...
Persistent link: https://www.econbiz.de/10012470802
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Local House Price Indexes : 1982-1991
Haurin, Donald - 1991
We begin with a description of three house price panel data sets for the period 1982 to 1991. Next, we estimate a model that assumes the three sources are derived from an underlying unobserved price series, and we construct composite indexes that report house prices for 135 locations. These...
Persistent link: https://www.econbiz.de/10012475051
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Land and House Price Measurement in China
Deng, Yongheng - 2012
We provide the first multi-city, constant quality land price index for 35 major markets in China. While there is meaningful heterogeneity in land price growth across cities, on average the last nine years have seen land values skyrocket in many markets, not just those on or near the coast. The...
Persistent link: https://www.econbiz.de/10012460257
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Estimating Racial Price Differentials in the Housing Market
Bayer, Patrick - 2012
This paper uses unique panel data covering over two million repeat-sales housing transactions from four metropolitan areas to test for the presence of racial price differentials in the housing market. Drawing on the strengths of these data, our research design controls carefully for unobserved...
Persistent link: https://www.econbiz.de/10012460590
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China's Real Estate Market
Liu, Chang - 2018
Since the 1990s, China's real estate market has experienced a dramatic and long-lasting boom across China. This boom has led to substantial concerns in both academic and policy circles that the rising housing prices might have developed into a gigantic housing bubble, which might eventually...
Persistent link: https://www.econbiz.de/10012480948
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Housing Supply and Housing Bubbles
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
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Credit Supply and Housing Speculation
Mian, Atif - 2018
Credit supply expansion fuels housing speculation, generating a boom and bust in house prices. U.S. zip codes more exposed to the 2003 acceleration of the private label mortgage securitization (PLS) market witnessed a sudden and large increase in mortgage originations and house prices from 2003...
Persistent link: https://www.econbiz.de/10012452898
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Access to Long-Term Care After a Wealth Shock : Evidence from the Housing Bubble and Burst
Font, Joan Costa - 2017
Home equity is the primary self-funding mechanism for long term services and supports (LTSS). Using data from the relevant waves of the Health and Retirement Study (1996-2010), we exploit the exogenous variation in the form of wealth shocks resulting from the value of housing assets, to examine...
Persistent link: https://www.econbiz.de/10012453930
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Real Estate Bubbles and Urban Development
Glaeser, Edward L. - 2016
Why are real estate bubbles so common? Can these bubbles actually do some good? Real estate booms have regularly … estate and the errors of passive capital can generate real estate bubbles. The preference of banks for more fungible real … estate assets can also explain why real estate is so often the source of financial crises. In principle, real estate bubbles …
Persistent link: https://www.econbiz.de/10012455683
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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