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Glaeser, Edward L. - 2014

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

House Prices and Rents in the 21st Century

Loewenstein, Lara; Willen, Paul - National Bureau of Economic Research - 2023

We study the joint evolution of prices and rents of residential property. After constructing rent and price indices for renter- and owner-occupied properties, we decompose the change in the price of occupant-owned property into (1) changes in rent, (2) changes in the relative prices of investor-...

Persistent link: https://www.econbiz.de/10014247934

Understanding Booms and Busts in Housing Markets

Burnside, Craig - 2011

Some booms in housing prices are followed by busts. Others are not. It is generally difficult to find observable fundamentals that are useful for predicting whether a boom will turn into a bust or not. We develop a model consistent with these observations. Agents have heterogeneous expectations...

Persistent link: https://www.econbiz.de/10012461924

Are Swedish House Prices Too High? Why the Price-to-Income Ratio Is a Misleading Indicator

Svensson, Lars E. O. - National Bureau of Economic Research - 2023

According to ECB (2023) and European Systemic Risk Board (2022), Swedish owner-occupied housing (OOH) was overvalued by about 55% in 2021q2, the largest overvaluation in the EU and EEA; according to European Commission (2023c), by about 30% in 2022. These assessments affect warnings and...

Persistent link: https://www.econbiz.de/10014436993

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

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

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

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

Florida (Un)Chained

Calomiris, Charles W.; Jaremski, Matthew S. - National Bureau of Economic Research - 2023

To understand a price boom, it is helpful to take account of: (1) observable indicators of changes in ex ante risk tolerance, (2) what information exists and when, and (3) the incentives lenders face. This paper takes such an approach to the Florida land boom of the mid-1920s, the U.S.' first...

Persistent link: https://www.econbiz.de/10014226111

The Remote Work Revolution : Impact on Real Estate Values and the Urban Environment

Nieuwerburgh, Stijn van - National Bureau of Economic Research - 2022

The covid-19 pandemic induced a major shift in the prevalence of remote and hybrid work arrangements. This article reviews the effects of this remote work revolution for residential and commercial real estate values and for the future of cities. It also discusses consequences for productivity,...

Persistent link: https://www.econbiz.de/10013462710