UNIGE document Report
previous document  unige:5723  next document
add to browser collection
Title

House Price Changes and Idiosyncratic Risk: The Impact of Property Characteristics

Authors
Bourassa, Steven C.
Haurin, Donald R.
Haurin, Jessica L.
Year 2008
Collection Cahiers de recherche; 2008.03
Abstract While the average change in house prices is related to changes in fundamentals or perhaps market-wide bubbles, not all houses in a market appreciate at the same rate. The primary focus of our study is to investigate the reasons for these variations in price changes among houses within a market. We draw on three theories for guidance, one related to the optimal search strategy for sellers of atypical dwellings, another focusing on the bargaining process between a seller and potential buyers, and the third relying on the concept of land leverage. We hypothesize that houses will appreciate at different rates depending on the characteristics of the property and the change in the strength of the housing market. These hypotheses are supported using data from three New Zealand housing markets.
Keywords Technical TradingFalse Discovery RatePersistenceTransaction Costs
Full text
Structures
Citation
(ISO format)
BOURASSA, Steven C. et al. House Price Changes and Idiosyncratic Risk: The Impact of Property Characteristics. 2008 https://archive-ouverte.unige.ch/unige:5723

149 hits

1073 downloads

Update

Deposited on : 2010-04-15

Export document
Format :
Citation style :