housing bubbles.Between 2000 and the bubble's peak, inflation- adjusted housing prices in California and Florida more than …,000 people per year.This suggests that local factors, not national policies, were a necessary condition for the housing bubbles …

's largest cities. One interpretation of our results is that stochastic, rational bubbles were a feature of Australia's major … in Australia's housing markets, there is little evidence that what might be identified as house price bubbles had any …

We introduce a novel quantitative methodology to detect real estate bubbles and forecast their critical end time, which … calibration with respect to bootstrapped residuals. We make three main contributions to the literature of real estate bubbles … critical times of historical housing price bubbles in the U.S., Hong Kong, U.K. and Canada. Second, the LPPLS detection methods …

capital may flow disproportionately into real estate and help generate real estate bubbles. The preference of banks for more … fungible real estate assets also explains why real estate is so often the source of a financial crisis. Real estate bubbles can … modest benefits of extra building.The benefits of real estate bubbles are welfare “triangles,” while the costs of widespread …