A new sample containing rental price and characteristic data for over 15,000 New York City units was collected from historical newspapers for the period 1880 to 1910. These units were geolocated to the historical map of Manhattan Island to explore their geographic coverage, using Geographic...

Housing markets experience substantial price volatility, short-term price change momentum, and mean reversion of prices over the long run. Together, these features, particularly at their most extreme, produce the classic shape of an asset bubble. In this chapter, we review the stylized facts of...