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.
| Originalsprog | Engelsk |
|---|---|
| Publikationsdato | 2018 |
| Antal sider | 28 |
| Status | Udgivet - 2018 |
| Begivenhed | European Financial Management Association 2018 Annual Meetings - Università Cattolica del Sacro Cuore, Milan, Italien Varighed: 27 jun. 2018 → 30 jun. 2018 Konferencens nummer: 27 https://www.efmaefm.org/0EFMAMEETINGS/EFMA%20ANNUAL%20MEETINGS/2018-Milan/2018%20meetings.php |
Konference
| Konference | European Financial Management Association 2018 Annual Meetings |
|---|---|
| Nummer | 27 |
| Lokation | Università Cattolica del Sacro Cuore |
| Land/Område | Italien |
| By | Milan |
| Periode | 27/06/2018 → 30/06/2018 |
| Internetadresse |
Emneord
- Housing market
- Spillover effects
- Urban economics
- Real estate
- Repeat sales
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