This study examines how heterogeneous traders on both sides of transactions behave in the housing market under information asymmetry. Two types of buyers, namely, informed and uninformed buyers, correspond to local and non-local buyers in the empirical tests. Non-local housing buyers in Hong...

The profiteering developer is a common figure in debates over housing policy. Governments increasingly use developer profits to justify policies like inclusionary housing. Yet, we actually understand little about the competitiveness of housing development. One unresolved question is whether...