The housing market exhibits a puzzling yet repetitive seasonal boom and bust cycle where prices and trade volume rise … in summers and fall in winters. This paper presents a search model that analytically generates the observed deterministic …

I propose a model of the housing market using a search framework with asymmetric information in which sellers are … advantage in the matching process, incentive compatible listing contracts are implementable as long as housing is not already … posting as a signalling device to direct buyers' search. Adverse selection and inefficient entry on the demand side then …

structural search model that allows housing owners to buy second houses to let out, and let rents be determined endogenously. To …In this paper, I explore and explain how buy-to-let investors affect housing price dynamics. The impact of buy …-to-let investors on the housing market is much discussed by policy makers, but previously not considered in the literature. I develop a …

model, the search and matching theory and behavioral economics. Concerning the latter, we propose a new framework to explain …We review the existing literature on the causes of vacancies in the housing market. First, we present a detailed … vacancies in the housing market in the context of prospect theory which could be extended by future research. Second, we …

This chapter surveys the literature on the microstructure of housing markets. It considers one-sided search, random … matching, and directed search models. It also examines the bargaining that takes place once a match has occurred, with the … bargaining taking various forms, including two-party negotiations of different types and multiparty housing auctions. The chapter …

The paper presents a model of housing and credit cycles featuring distorted beliefs and comovement and mutual …) development in house prices fuels optimism (pessimism) and credit expansion (contraction), which in turn boost (dampen) housing …

This paper quantitatively accounts for the cyclical dynamics of key macroeconomic housing and mortgage market variables … using a tractable, searchtheoretic model of housing with equilibrium mortgage default. To explain these dynamics, the model … highlights the importance of liquidity spirals that arise from the interaction of search frictions and endogenous credit …

This paper examines whether the Mortensen-Pissarides matching model can account for the housing markets facts, most of … facts of housing market, without any restrictive assumption and in a very simple framework. …

housing market search model. Flipping tends to take place in sluggish and tight, but not in moderate, markets. To follow is … rapid turnover, a high vacancy rate, and high housing prices. In another equilibrium, few houses are bought and sold by … response to the smallest interest rate shock. The housing market can then be intrinsically unstable even when all flippers are …