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 …

Housing markets experience substantial price volatility, short term price change momentum and mean reversion of prices … bubble. In this paper, we review the stylized facts of housing bubbles and discuss theories that can potentially explain … bubbles. Many non-rational explanations for real estate bubbles exist, but the most promising theories emphasize some form of …

This paper employs econometric tests of rational bubbles to identify housing bubbles, especially during the COVID-19 … pandemic. It then examines monetary policy impacts on housing bubbles through a hierarchical Bayesian framework. The S …