Hong Kong, China's housing market witnessed dramatic appreciations recently, with the price index for private domestic housing units being 3 times higher than 10 years ago. This trend is supported by both internal and external factors, as illustrated in this paper. By providing a theoretical...

The residential real estate market in the United States experienced unprecedented growth beginning in the late 1990s, followed by a dramatic downturn starting around the middle of 2006. By tracking opinions and perceptions of the U.S. housing market before, during, and after the real estate...

We empirically document that banks with greater exposure to high home price-to-income ratio regions in 2005 and 2006 have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the last financial crisis even after controlling for capital,...