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U.S. metropolitan house price dynamics
Oikarinen, Elias; Bourassa, Steven C.; Hoesli, Martin; … - 2017
Using data for 70 U.S. metropolitan areas, this study explores spatial heterogeneity in house price dynamics. We use recent advances in panel econometrics that allow for spatial heterogeneity, cross-sectional dependence, and non-stationary but cointegrated data. We test for spatial differences...
Persistent link: https://www.econbiz.de/10011875693
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Speculative fever : investor contagion in the housing bubble
Bayer, Patrick J.; Mangum, Kyle; Roberts, James W. - 2016
, abound. While the role of investor contagion in asset bubbles has been explored extensively in the theoretical literature …
Persistent link: https://www.econbiz.de/10011524199
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Can learning explain boom-bust cycles in asset prices? : an application to the US housing boom
Caines, Colin - 2016
Explaining asset price booms poses a difficult question for researchers in macroeconomics: how can large and persistent price growth be explained in the absence large and persistent variation in fundamentals? This paper argues that boom-bust behavior in asset prices can be explained by a model...
Persistent link: https://www.econbiz.de/10011563199
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Anticipating critical transitions of Chinese housing markets
Zhang, Qunzi; Sornette, Didier; Zhang, Hao - 2017
We introduce a novel quantitative methodology to detect real estate bubbles and forecast their critical end time, which … calibration with respect to bootstrapped residuals. We make three main contributions to the literature of real estate bubbles … critical times of historical housing price bubbles in the U.S., Hong Kong, U.K. and Canada. Second, the LPPLS detection methods …
Persistent link: https://www.econbiz.de/10011761282
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House prices and rents in the 21st century
Loewenstein, Lara; Willen, Paul - 2023 - This version: February 2023
We study the joint evolution of prices and rents of residential property. After constructing rent and price indices for renter- and owner-occupied properties, we decompose the change in the price of occupant-owned property into (1) changes in rent, (2) changes in the relative prices of investor-...
Persistent link: https://www.econbiz.de/10014245238
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House Prices and Rents in the 21st Century
Loewenstein, Lara; Willen, Paul - National Bureau of Economic Research - 2023
We study the joint evolution of prices and rents of residential property. After constructing rent and price indices for renter- and owner-occupied properties, we decompose the change in the price of occupant-owned property into (1) changes in rent, (2) changes in the relative prices of investor-...
Persistent link: https://www.econbiz.de/10014247934
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Bubbles in real metropolitan house prices : evidence from New Zealand
Bourassa, Steven C.; Hendershott, Patric H. - 1997
Persistent link: https://www.econbiz.de/10000973636
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Hot property in New Zealand : empirical evidence of housing bubbles in the metropolitan centres
Greenaway-McGrevy, Ryan; Phillips, Peter C. B. - 2015
Persistent link: https://www.econbiz.de/10011312322
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House prices and bubbles in New Zealand
Fraser, Patricia (contributor); Hoesli, Martin (contributor) - 2006
Persistent link: https://www.econbiz.de/10003459185
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Is there a bubble in the Chinese housing market?
Dreger, Christian; Zhang, Yanqun - 2011
For many analysts, the Chinese economy is spurred by a bubble in the housing market, probably driven by the fiscal stimulus package and massive credit expansion, with possible adverse effects to the real economy. For example, the stock of loans increased by more than 50 percent since the end of...
Persistent link: https://www.econbiz.de/10011550681