Spillover Effects in Residential House Price

Marcel Fischer, Roland Füss, Simon Stehle

Publikation: KonferencebidragPaperForskningpeer review

Abstrakt

We study the micro-level evolution of residential house prices using data on all repeat sales on Manhattan Island from 2004 to 2015. We document that excess returns spill over to other trades in the neighborhood — even after controlling for general house price movements on the zip-code level. This effect quickly vanishes as the distance between trades increases. In booming states of the housing market cycle, spillover effects are weaker in the nearest neighborhood and stronger from more distant neighborhoods.
OriginalsprogEngelsk
Publikationsdato2018
Antal sider28
StatusUdgivet - 2018
BegivenhedEuropean Financial Management Association 2018 Annual Meetings - Università Cattolica del Sacro Cuore, Milan, Italien
Varighed: 27 jun. 201830 jun. 2018
Konferencens nummer: 27
https://www.efmaefm.org/0EFMAMEETINGS/EFMA%20ANNUAL%20MEETINGS/2018-Milan/2018%20meetings.php

Konference

KonferenceEuropean Financial Management Association 2018 Annual Meetings
Nummer27
LokationUniversità Cattolica del Sacro Cuore
LandItalien
ByMilan
Periode27/06/201830/06/2018
Internetadresse

Emneord

  • Housing market
  • Spillover effects
  • Urban economics
  • Real estate
  • Repeat sales

Citationsformater

Fischer, M., Füss, R., & Stehle, S. (2018). Spillover Effects in Residential House Price. Afhandling præsenteret på European Financial Management Association 2018 Annual Meetings, Milan, Italien.