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A Tale of Two Countries : Comparing the US and Chinese Housing Markets
Lai, Rose Neng - 2018
The recent surge in property values in China has been similar to the surge in the U.S before the crash in 2007. This … raises concerns about whether China is destined to have a crash as well. We estimate similar models of property values for … reverting, without momentum. This suggests that the recent price rise in China has had more to do with scarcity than with …
Persistent link: https://www.econbiz.de/10012914765
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Interest Rates and House Prices in the United States and Around the World
Sutton, Gregory D. - 2017
This paper estimates the response of house prices to changes in short- and long-term interest rates in 47 advanced and emerging market economies. We use data that statistical authorities selected as their best house price series, covering almost half a century of quarterly observations for the...
Persistent link: https://www.econbiz.de/10012945708
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U.S. Immigration Levels, Urban Housing Values, and Their Implications for Capital Share
Murphy, Ryan - 2016
This research note applies previously estimated effects of immigration on housing values to urban counties in the United States. Determining the extent to which increase in urban housing values is attributable to immigration fills a gap in the economics literature. Furthermore, our findings here...
Persistent link: https://www.econbiz.de/10012983929
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A Dynamic Model for Housing Price Spillovers with an Evidence from the US and the UK Markets
Ozun, Alper - 2018
Persistent link: https://www.econbiz.de/10012920018
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A dynamic model for housing price spillovers with an evidence from the US and the UK markets
Ozun, Alper; Ertugrul, Hasan Murat; Coskun, Yener - In: Journal of capital markets studies 2 (2018) 1, pp. 70-81
Purpose - The purpose of this paper is to introduce an empirical model for house price spillovers between real estate markets. The model is presented by using data from the US-UK and London-New York housing markets over a period of 1975Q1-2016Q1 by employing both static and dynamic...
Persistent link: https://www.econbiz.de/10012063547
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Relative house price dynamics across euro area and US cities: convergence or divergence?
Hiebert, Paul; Roma, Moreno - 2010
This paper examines the time varying dispersion in city house price levels across the four biggest euro area countries compared with those in the United States. Using available city-level data over the period 1987-2008, it tests for price convergence and analyses key factors explaining price...
Persistent link: https://www.econbiz.de/10003973532
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Seasonality in house prices
Kajuth, Florian; Schmidt, Tobias - 2011
The contribution of this paper is to offer a rationale for the observed seasonal pattern in house prices. We first document seasonality in house prices for the US and the UK using formal statistical tests and illustrate its quantitative importance. In the second part of the paper we employ a...
Persistent link: https://www.econbiz.de/10008990894
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Supply restrictions, subprime lending and regional US house prices
Anundsen, André Kallåk; Heebøll, Christian - 2015
With regard to the recent US house price cycle, we analyze how the interaction between housing supply restrictions, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan Statistical Areas, we estimate a simultaneous boom-bust...
Persistent link: https://www.econbiz.de/10010488113
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Supply Restrictions, Subprime Lending and Regional US House Prices
Anundsen, André K. - 2015
With regard to the recent US house price cycle, we analyze how the interaction between housing supply restrictions, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan Statistical Areas, we estimate a simultaneous boom-bust...
Persistent link: https://www.econbiz.de/10013025976
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Spatial Effects and House Price Dynamics in the USA
Cohen, Jeffrey - 2016
While an understanding of spatial spillovers and feedbacks in housing markets could provide valuable information for location decisions, little known research has examined this issue for the US Metropolitan Statistical Areas (MSAs). Also, it is unknown whether there can be differences in the...
Persistent link: https://www.econbiz.de/10012985620