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Fundamental and Speculative Demands for Housing

Lian, Weicheng - 2019

This paper separates the roles of demand for housing services and belief about future house prices in a house price … cycle, by utilizing a feature of user-cost-of-housing that it is sensitive to demand for housing services only. Optimality … structures in producing housing services. I find that the impact of demand for housing services on house prices is amplified by a …

Persistent link: https://www.econbiz.de/10012888765

Booms and busts in housing markets : determinants and implications

Agnello, Luca; Schuknecht, Ludger - 2009

This study looks at real estate price booms and busts in industrialised countries. It identifies major and persistent deviations from long term trends for 18 countries and estimates the probabilities of their occurrence using a Random Effects Panel Probit model over the period 1980-2007. It...

Persistent link: https://www.econbiz.de/10003867077

The effect of consumers' expectations in a booming housing market

Rouwendal, Jan; Longhi, Simonetta - 2007 - This version: September 26, 2007

‘bubbles’ the spatial pattern of house prices, which can mainly be attributed to accessibility differences, usually remains …

Persistent link: https://www.econbiz.de/10011372973

Borrowing Constraints during the Housing Bubble

Barakova, Irina - 2013

The impact of borrowing constraints on homeownership has been well established in the literature. Wealth is most likely to restrict homeownership followed by credit and income. Using recent movers from the 1979 National Longitudinal Survey of Youth and borrowing constraint definitions commonly...

Persistent link: https://www.econbiz.de/10013085625

The 'Housing Bubble' and Financial Factors : Insights from a Structural Model of the French and Spanish Residential Markets

Antipa, Pamfili M. - 2015

changes in financial and demographic factors. This is done by means of a structural model of the demand and supply sides of …

Persistent link: https://www.econbiz.de/10013038761

Do House Prices Reflect Fundamentals? Aggregate and Panel Data Evidence

Mikhed, Vyacheslav - 2009

We investigate whether recently high U.S. house prices are justified by fundamental factors. The standard unit root and cointegration tests with aggregate data indicate that house rent is the only fundamental which has the same order of integration as the price, but these two variables are not...

Persistent link: https://www.econbiz.de/10013155512

Booms and Busts in Housing Markets : Determinants and Implications

Agnello, Luca - 2009

Persistent link: https://www.econbiz.de/10013158164

Mortgage Innovation and House Price Booms

Bäckman, Claes - 2020

We study the genesis of the 2000s housing boom in Denmark, a country with a similar mortgage finance system to the U.S., but where subprime mortgages were absent, regulatory loan-to-value ratios were unchanged, and there was no reallocation of credit towards low income borrowers. Our results...

Persistent link: https://www.econbiz.de/10012855847

The Housing Bubble and a New Approach to Accounting for Housing in a CPI

Diewert, W. Erwin - 2015

Over the course of the recent house price bubble in the United States, the price of homes rose rapidly from 1999 Q4 to 2005 Q4 (11.3% annually as measured by the Case-Shiller index, and 8.4% annually as measured by the Federal Housing Financing Agency) but slowly as measured by owner equivalent...

Persistent link: https://www.econbiz.de/10013035524

Shift in House Price Estimates during COVID-19 Reveals Effect of Crisis on Collective Speculation

Petersen, Alexander Michael - 2022

, uncertainty in price estimates decreased, signaling the irrational confidence characteristic of prior asset bubbles. We explore … how these two trends are related to market size, local market supply and borrowing costs, which altogether lend support …

Persistent link: https://www.econbiz.de/10013404340