Glaeser, Edward Ludwig; Nathanson, Charles G. - National Bureau of Economic Research (NBER) - 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 … housing market, such as intensive search and short selling constraints, to explain the stylized facts. Cheap credit provides a …