This empirical investigation applies a hedonic pricing model to determine whether property taxes have been capitalized into housing prices of single-family homes in city of St. Augustine, Florida housing market for single family homes. There were sufficient data in this context to study a total...

In this study, we examine the impact of real estate brokerage firm characteristics on real estate prices from 2008 to 2013. We focus on single-family homes and condominiums in Duval County, the largest county in the Northeast Florida real estate market. Contrary to most research findings to...

This empirical study investigates the impact of property taxes, public education outlays, and other factors on interstate differentials in the cost of housing. While the literature on geographic cost-of-living differentials is well developed, the literature on geographic cost-of-housing...

This paper examines the effects of a mortgage interest rate subsidy on boom and bust in the housing market by exploiting the Housing Mortgage (HM) program implemented in Mongolia. Main results are (i) the recent housing boom occurred from 2012Q2 to 2014Q1, while the housing bust lasted four...

Motivated by the revealed preference approach to consumer theory, this study constructs a dynamic theoretical model which infers the unobservable household behavior from the observable patterns of housing and mortgage market activities. The model emphasizes the role of asymmetric responses of...

Motivated by the revealed preference approach to consumer theory, this study constructs a dynamic theoretical model which infers the unobservable household behavior from the observable patterns of housing and mortgage market activities. The model emphasizes the role of asymmetric responses of...

Econometric evidence suggests the existence of two dynamics in the postwar U.S. housing market: (i) housing rental and purchase prices co-move positively in response to productivity shocks, and (ii) the purchase price exhibits much larger volatile movements than the rental price in response to...

This article explains why the housing and commercial real estate market are in a permanent disequilibrium. The real estate market converges towards the equilibrium, but it changes due to credit constraints, expectations and the long investment process. The cycles on this market are much more...

We use novel and unique data to study the effect of price changes in the market for luxury and middle class homes. We find that luxury home sales respond less to price changes than the middle-class home sales; in the market for luxury homes, past prices affect current prices; luxury home prices...

This paper presents a simple disequilibrium model in the primary housing market, calibrated to the Warsaw market. Our aim is to point out that the primary housing market, due to the long construction process is always in disequilibrium, which has important policy implications. We discuss the...