The Dynamics of Housing Prices

被引：0
|
作者：
Titman, Sheridan [1 ]
Wang, Ko [2 ]
Yang, Jing [3 ]
机构：
[1] Univ Texas Austin, Austin, TX 78712 USA
[2] Johns Hopkins Univ, Baltimore, MD 21202 USA
[3] Calif State Univ Fullerton, Fullerton, CA 92834 USA
来源：
JOURNAL OF REAL ESTATE RESEARCH | 2014年 / 36卷 / 03期
关键词：
MARKET; DETERMINANTS; INVESTMENT; ELASTICITY; SHOCKS; MODEL;
D O I：
暂无
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We analyze the prices of owner-occupied housing in 97 metropolitan areas between 1980 and 2011. Our tests indicate that price changes exhibit positive serial correlation at the one year intervals, with subsequent reversals of price changes over longer intervals. Consistent with our simple model, regional differences in observed price patterns reflect differences in the serial correlation of the demand shocks, as well as the elasticity of supply responses.
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页码：283 / 317
页数：35
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