Housing markets experience substantial price volatility, short-term price change momentum, and mean reversion of prices over the long run. Together, these features, particularly at their most extreme, produce the classic shape of an asset bubble. In this chapter, we review the stylized facts of...

An unprecedented land grab is taking place around the world. Fearing future food shortages or eager to profit from them, the world`s wealthiest and most acquisitive countries, corporations, and individuals have been buying and leasing vast tracts of land around the world. The scale is...