We examine the evolution of spatial house price dispersion during Germany’s recent housing boom. Using a dataset of sales listings, we find that house price dispersion has significantly increased, which is driven entirely by rising price variation across postal codes. We show that both price...

While Machine Learning (ML) excels at predictive tasks, its inferential capacity is limited due to its complex non-parametric structure. This paper aims to elucidate the analytical behavior of ML through Interpretable Machine Learning (IML) in a real estate context. Using a hedonic ML approach...

The purpose of this paper is to forecast housing prices in Ankara, Turkey using the artificial neural networks (ANN) approach. The data set was collected from one of the biggest real estate web pages during April 2013. A three-layer (input layer - one hidden layer - output layer) neural network...

Economic development of countries, regions or entities operating on the market is possible when favourable economic conditions outweigh adverse conditions. Examining the development of European economy, it is possible to observe this regularity in the majority of periods, i.e. the bull market...

We develop a new dynamic equilibrium model with heterogeneous households that captures the most important frictions that arise in housing rental markets and explains the political popularity of affordable housing policies. We estimate the model using data collected by the New York Housing...

Throughout the 20th century, the Swedish rental market has generally been heavily regulated, with both a rental queue in place, as well as generally fixed rents, with limited ability to vary these. Though these systems remain in place, in the 21st century, a number of deregulatory measures have...

We study long-term returns on residential real estate in twenty-seven "superstar" cities in fifteen countries over 150 years. We find that total returns in superstar cities are close to 100 basis points lower per year than in the rest of the country. House prices tend to grow faster in the...

This study investigates how transportation costs and environmental damage affect social welfare and the optimal degree of nationalization by assuming asymmetric mixed oligopoly markets. It assumes that both transportation costs and environmental damage are incurred when products are transported...

Housing decisions depend critically on the supply of long-term rental housing, yet surprisingly few studies examine the determinants of this supply. Based on term structure theories of asset prices and extrapolative beliefs, we hypothesize that housing market conditions shape the term structure...

Croatia’s labour market has made important progress over the past decade. Employment rates are rising, reducing the gap with OECD countries, and poverty has fallen. While important weaknesses remain, many dimensions of equity and working conditions are similar to OECD countries. Continuing...