Unraveling housing price inflation
Abstract
Housing prices have increased at a historically fast pace since the late 1990s in most developed nations, puzzling many observers. The fluctuations in housing markets attract the attention of both researchers and consumers, as real estate is a very important sector of the economy as well as a major factor in the acquisition of wealth. Is this a "bubble" phenomenon or just supply and demand at work? The aim of this paper is to uncover the dynamics of housing prices during the period of the mid-1990s to 2006, especially from 2003 to 2006, and to understand the determinants of the remarkably fast-growing housing markets. To that end, economic fundamentals for the U.S. national market, top 200 U.S. metropolitan areas, and different overseas markets will be investigated; in addition, supply and demand models and various econometric models will be used.
Subject Area
Economics,Demography
Recommended Citation
Manhong Feng,
"Unraveling housing price inflation"
(January 1, 2009).
Dissertations available from ProQuest.
Paper AAI3363292.
http://repository.upenn.edu/dissertations/AAI3363292
View
More
