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Renewed Momentum in the German Housing Market : Boom or Bubble?

Chen, Xi - 2013

speculative bubbles in Germany over the sample period 1987Q3-2012Q4. Overall, we find that actual house prices are not … significantly disconnected from underlying economic fundamentals. Thus, there is no evidence of speculative house price bubbles in …

Persistent link: https://www.econbiz.de/10013079871

Bank Failures, Capital Buffers, and Exposure to the Housing Market Bubble

Kara, Gazi - 2020

We empirically document that banks with greater exposure to high home price-to-income or price-to-rent ratio regions before the financial crisis of 2007--2009 have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the crisis even after...

Persistent link: https://www.econbiz.de/10012827818

Is there a national housing market bubble brewing in the United States?

Gupta, Rangan; Ma, Jun; Theodoridis, Konstantinos; … - 2020

regimes throughout the sample period, to study the impact of aggregate supply, aggregate demand, (conventional) monetary …

Persistent link: https://www.econbiz.de/10012229804

Comparing ask and transaction prices in the Swiss housing market

Ahmed, Ahmed; Ardila, Diego; Sanadgol, Dorsa; Sornette, … - 2016

We analyze the relationship between ask and transaction prices in the Swiss residential real estate market over the 2005-2015 period. First, we present strong evidence that ask and transaction prices are co-integrated across different market segments, but they do not Granger-cause one another....

Persistent link: https://www.econbiz.de/10011626361

Expectations during the U.S. housing boom : inferring beliefs from actions

Ben-David, Itzhak; Towbin, Pascal; Weber, Sebastian - 2019

. Empirically, vacancy can discriminate between price movements related to shocks to demand for housing services (low vacancy) and …

Persistent link: https://www.econbiz.de/10012104647

Heterogeneous expectations, housing bubbles and tax policy

Martin, Carolin; Schmitt, Noemi; Westerhoff, Frank H. - 2020

We integrate a plausible expectation formation and learning scheme of boundedly rational investors into a standard user cost housing market model, involving a rental and a housing capital market. In particular, investors switch between heterogeneous expectation rules according to an evolutionary...

Persistent link: https://www.econbiz.de/10012164832

Bank failures, capital buffers, and exposure to the housing market bubble

Kara, Gazi I.; Vojtech, Cindy M. - 2017

We empirically document that banks with greater exposure to high home price-to-income ratio regions in 2005 and 2006 have higher mortgage delinquency and charge-off rates and significantly higher probabilities of failure during the last financial crisis even after controlling for capital,...

Persistent link: https://www.econbiz.de/10011803674

Australian Housing Market Booms : Fundamentals or Speculation?

Shi, Shuping - 2019

government area (LGA) levels. We control for housing market demand and supply fundamentals using the technique of Shi (2017), and …This paper investigates the presence of housing bubbles in Australia at the national, capital city, and local … employ the recursive evolving method proposed by Phillips et al. (2015a,b) for the detection of explosive bubbles. While the …

Persistent link: https://www.econbiz.de/10012863721

Chapter 12. Housing, Finance, and the Macroeconomy

Davis, Morris A.; Van Nieuwerburgh, Stijn - In: Handbook of regional and urban economics : volume 5, (pp. 753-811). 2015

In this chapter, we review and discuss the large body of research that has developed over the past 10-plus years that explores the interconnection of macroeconomics, finance, and housing. We focus on three major topics—housing and the business cycle, housing and portfolio choice, and housing...

Persistent link: https://www.econbiz.de/10014025303

A Model-Free Test of Rational Bubbles : An Application to the US Housing Market

Basco, Sergi; Schäfer-i-Paradís, Maximilian - 2022

”bubbles”. In this paper, we provide a model-free test of rational bubbles and we apply it to the U.S. housing market. Based on … deficit raises house prices and they are exacerbated in housing supply inelastic municipalities. We empirically apply this …

Persistent link: https://www.econbiz.de/10013404365