Cunningham, Rose M. (contributor); Kolet, Ilan (contributor) - 2007
. Using a panel of 137 cities, we examine the duration, size, and correlations of housing market cycles in North America. We … for duration dependence. We find that housing market expansions have positive duration dependence since their exit … probabilities increase with duration, while contractions seem to have no duration dependence. Standard determinants of house prices …
