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Bubble Formation and Networks in Housing Markets

Shi, Shuping - 2018

This paper proposes a framework for analysing speculative bubbles in housing markets. The formation of bubbles is … autonomous bubbles, and the individual connectivity index identifying systematically important sub-markets. We illustrate our … Melbourne bubble network is an autonomous one, speculative bubbles in the Sydney market are highly interconnected, and show a …

Persistent link: https://www.econbiz.de/10012924880

The Great Housing Boom of China

Chen, Kaiji - 2015

This paper provides a theory to explain the paradoxical features of the great housing boom in China — the persistently faster-than-GDP housing price growth, exceptionally high capital returns, and excessive vacancy rates. The expectation that high capital returns driven mainly by resource...

Persistent link: https://www.econbiz.de/10013032798

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

The Anatomy of a Housing Bubble : Overconfidence, Media and Politics

Bucchianeri, Grace Wong - 2015

This paper investigates a potential housing bubble in Hong Kong in the 1990s. A within-city analysis is performed using a monthly panel data set on 324 large-scale housing complexes (estates) located in 17 out of 18 districts in Hong Kong. The empirical analysis focuses on crosssectional...

Persistent link: https://www.econbiz.de/10013037841

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

Unequal Expansion of Housing Prices in Oakland, CA During the House Price Bubble of 2003-2006

Davis, John B - 2014

Across the city of Oakland, CA, home prices increased 49% from mid-2003 to mid-2006 when estimated by hedonic methods. However, there was great variation in price growth across neighborhoods during this period. In neighborhoods of predominantly minority poor residents, home prices increased...

Persistent link: https://www.econbiz.de/10013061781

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

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

We use a time-varying parameter dynamic factor model with stochastic volatility (DFM-TV-SV) estimated using Bayesian methods to disentangle the relative importance of the common component in FHFA house price movements from state-specific shocks, over the quarterly period of 1975Q2 to 2017Q4. We...

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

The interaction of actual and fundamental house prices : a general model with an application to Denmark and Sweden

Sørensen, Peter Birch; Bergman, Michael U. - 2016

The paper presents a general method for estimating a country's level of fundamental house prices and its interaction with actual house prices. We set up a unified empirical model which can be used to analyze the time-series behavior of the fundamental house price and to test various hypotheses...

Persistent link: https://www.econbiz.de/10011568744

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

What determines China's housing price dynamics? : new evidence from a DSGE-VAR

Liu, Chunping; Ou, Zhirong - 2017

demand shock, which is the essential factor for housing price "bubbles" to happen, accounts for over 80% of the housing price …

Persistent link: https://www.econbiz.de/10011689521