Himmelberg, Charles; Mayer, Christopher; Sinai, Todd - In: Journal of Economic Perspectives 19 (2005) 4, pp. 67-92
How does one tell when rapid growth in house prices is caused by fundamental factors of supply and demand and when it is an unsustainable bubble? In this paper, we explain how to assess the state of house prices—both whether there is a bubble and what underlying factors support housing...