We investigate whether recently high U.S. house prices are justified by fundamental factors. The standard unit root and cointegration tests with aggregate data indicate that house rent is the only fundamental which has the same order of integration as the price, but these two variables are not...

We employ recently developed cross-sectionally robust panel data tests for unit roots and cointegration to find whether house prices reflect house-related earnings. We use U.S. data for Metropolitan Statistical Areas, with house price measured by the weighted-repeated-sales index, and cash flows...

We show that a regulatory disclosure of hidden debt eliminated a large mispricing in housing. In a setting where homebuyers must combine several sources of debt, they are biased towards hidden loans, especially if they are young, or have no experience in financial investments or home...

Real estate agents play an important intermediary role in housing markets. We use a merged transaction dataset that identifies houses purchased by registered real estate agents (salespersons) and other buyers in Singapore to empirically test the hypothesis that real estate agents use information...

We use a linked housing transaction dataset and a personal bankruptcy dataset to study the impact of housing credit on personal bankruptcy in Singapore. Using a difference-in-differences (DD) approach, we find that an increase in housing credit increases the monthly instalment by 560-900...

For most people, buying a home is their single largest financial commitment. Previous research shows that Chinese buyers pay less for homes with unlucky addresses and more for homes with lucky addresses. Using Singapore data on housing transactions combined with a plethora of individual buyer...