Glaeser, Edward L.; Nathanson, Charles G. - In: Handbook of regional and urban economics : volume 5, (pp. 701-751). 2015
Housing markets experience substantial price volatility, short-term price change momentum, and mean reversion of prices over the long run. Together, these features, particularly at their most extreme, produce the classic shape of an asset bubble. In this chapter, we review the stylized facts of...
