How do households adjust their spending behavior in response to changes in home price expectations? We conduct a field … experiment with a sample of Americans that links survey data on home price expectations to actual spending behaviour as measured … in a rich home-scanner dataset. In the experiment we exogenously vary households' home price expectations by providing …

market using shocks to aggregate income, the distribution of income, credit conditions, and expectations of future housing …

What is the role of heterogenous house-price expectations for boom-bust cycles in the housing market? We exploit a … unique Dutch panel data set on households' house price expectations and their consumption, savings and housing choices for … the sample on household heads who report non-zero house price expectations, we find that expectations closely track …

Home price expectations play a central role in macroeconomics and finance. However, there is little direct evidence on … how these expectations affect market choices. We provide the first experimental evidence based on a large-scale, high … to create non-deceptive, exogenous variation in the subjects' home price expectations. We then used rich administrative …

result, making information cheaper does not decrease the cross-sectional dispersion of expectations. We further document that … numeracy and the revealed “taste” for accurate expectations are important correlates of heterogeneity in all stages of the …

reinforcement between house price expectations and price developments via credit expansion/contraction. Positive (negative …