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This paper investigates a potential housing bubble in Hong Kong in the 1990s. A within-city analysis is performed using a monthly panel data set on 324 large-scale housing complexes (estates) located in 17 out of 18 districts in Hong Kong. The empirical analysis focuses on crosssectional...
Persistent link: https://www.econbiz.de/10013037841
of housing bubbles that predicts that places with more elastic housing supply have fewer and shorter bubbles, with … smaller price increases. However, the welfare consequences of bubbles may actually be higher in more elastic places because …
Persistent link: https://www.econbiz.de/10012750145
of housing bubbles that predicts that places with more elastic housing supply have fewer and shorter bubbles, with … smaller price increases. However, the welfare consequences of bubbles may actually be higher in more elastic places because …
Persistent link: https://www.econbiz.de/10012464454
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We use a search and matching model to study the heterogeneous welfare effects of housing market illiquidity due to mortgage lock-in over the lifecycle. We find that younger home buyers are disproportionately affected by mortgage lock-in, which disrupts their typical pattern of moving to...
Persistent link: https://www.econbiz.de/10015080986
of housing bubbles that predicts that places with more elastic housing supply have fewer and shorter bubbles, with … smaller price increases. However, the welfare consequences of bubbles may actually be higher in more elastic places because …
Persistent link: https://www.econbiz.de/10003741580
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