Arrested Development: Theory and Evidence of Supply-Side Speculation in the Housing Market

This paper studies the role of disagreement in amplifying housing cycles. Speculation is easier in the land market than in the housing market due to frictions that make renting less efficient than owner-occupancy. As a result, undeveloped land facilitates construction and intensifies the speculation...

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Veröffentlicht in:	The Journal of finance (New York) 2018-12, Vol.73 (6), p.2587-2633
Hauptverfasser:	NATHANSON, CHARLES G., ZWICK, ERIC
Format:	Artikel
Sprache:	eng
Schlagworte:	Housing Housing market Intuition Land market Occupancy Prices Renting
Online-Zugang:	Volltext
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