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An empirical investigation into regional housing market synchronisation in Poland

Trojanek, Radoslaw; Gluszak, Michal; Kruszka, Michał - In: Entrepreneurial business and economics review : EBER 11 (2023) 4, pp. 57-74

Objective: The article aims to investigate the synchronisation of metropolitan house prices from 2000 to 2020 based on novel empirical data. We applied several econometric procedures to address the cyclicity of housing markets. Research Design & Methods: Using a unique dataset of over four...

Persistent link: https://www.econbiz.de/10014490273

Detecting Periods of Exuberance : A Look at the Role of Aggregation with an Application to House Prices

Pavlidis, Efthymios - 2017

The recently developed SADF and GSADF unit root tests of Phillips et al. (2011) and Phillips et al. (2015) have become popular in the literature for detecting exuberance in asset prices. In this paper, we examine through simulation experiments the effect of cross-sectional aggregation on the...

Persistent link: https://www.econbiz.de/10012949882

Detecting Periods of Exuberance : A Look at the Role of Aggregation with an Application to House Prices

Pavlidis, Efthymios - 2020

Persistent link: https://www.econbiz.de/10012853830

Do as essay, not as I do? : how inflated list prices of unsold essayer homes affect the price discovery process

Agarwal, Sumit; Seiler, Michael J.; Siebert, Ralph - 2022

In the U.S. real estate market, around 30 percent of listed properties remain unsold. We examine whether unsold property listings exert externalities in the housing market. Our study builds on a comprehensive dataset that encompasses residential property listings in Orange County (California)...

Persistent link: https://www.econbiz.de/10013440434

Explaining the Housing Bubble

Levitin, Adam J. - 2015

There is little consensus as to the cause of the housing bubble that precipitated the financial crisis of 2008. Numerous explanations exist: misguided monetary policy; a global savings surplus; government policies encouraging affordable homeownership; irrational consumer expectations of rising...

Persistent link: https://www.econbiz.de/10013038604

Chapter 11. Housing Bubbles

Glaeser, Edward L.; Nathanson, Charles G. - In: Handbook of regional and urban economics : volume 5, (pp. 701-751). 2015

bubble. In this chapter, we review the stylized facts of housing bubbles and discuss theories that can potentially explain … swings in simple rational models. An incorrectly underpriced default option can make rational bubbles more likely. Many … nonrational explanations for real estate bubbles exist, but the most promising theories emphasize some form of trend chasing …

Persistent link: https://www.econbiz.de/10014025304

Speculators and Price Overreaction in the Housing Market

Fu, Yuming - 2013

This paper investigates the role of speculators in the housing market, specifically their contribution to price overreaction through positive feedback trading (or momentum trading). We exploit a unique dataset of condominium transactions in a residential real estate market where transaction...

Persistent link: https://www.econbiz.de/10013083281

Asymmetric financial indexation and speculative rational price bubbles in the housing market

Valenzuela-Silva, Mario I.; Martinez-Vazquez, Jorge; … - 2023

Persistent link: https://www.econbiz.de/10014382477

Expectations and the housing market : a model of house price dynamics

Hong, Jengei; Ryu, Doojin - In: Bulletin of economic research 75 (2023) 4, pp. 1242-1266

Persistent link: https://www.econbiz.de/10014436029

Rational housing demand bubble

Clain-Chamosset-Yvrard, Lise; Raurich-Puigdevall, Xavier; … - 2022

Persistent link: https://www.econbiz.de/10013263320