It is well known that risk factors influence how investment portfolios perform from a lender’s perspective; therefore, a thorough risk assessment of the housing market is vital. The aim of this paper was to analyze the risks from housing apartments in different housing market segments by using...

In this paper, I quantify the effect of buyers' uncertainty about a home's quality on its pricing and liquidity. I first develop a parsimonious model of home sale in which buyers learn about the home's quality from a walkthrough and from the home's days-on-market. Quality uncertainty distorts...

This paper argues that uncertainty can lead to higher price volatility and persistent estimation errors in the housing market. Empirically, I construct a Household Sentiment Index (HSI) by applying the Case-Shiller repeat-sales estimation method to the households' survey responses in the Panel...