Housing markets experience substantial price volatility, short term price change momentum and mean reversion of prices … bubble. In this paper, we review the stylized facts of housing bubbles and discuss theories that can potentially explain … bubbles. Many non-rational explanations for real estate bubbles exist, but the most promising theories emphasize some form of …

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 … bubbles identified for Sydney and Melbourne during the recent rapid housing price expansions from 2013 to 2017. The LGA …

speculation is one of the driving forces for the dramatic increase in house price. By controlling macroeconomic factors, we detect … on house price and speculation. The tightening policy cools down while the stimulating policy enhances the speculation …

of housing bubbles that predicts that places with more elastic housing supply have fewer and shorter bubbles, with … smaller price increases. However, the welfare consequences of bubbles may actually be higher in more elastic places because …

of housing bubbles that predicts that places with more elastic housing supply have fewer and shorter bubbles, with … smaller price increases. However, the welfare consequences of bubbles may actually be higher in more elastic places because …