Language:

A Tale of Two Countries: Comparing the US and Chinese Housing Markets

The journal of real estate finance and economics, 2020-10, Vol.61 (3), p.505-547 [Peer Reviewed Journal]

Full text available

Citations Cited by

Title:
A Tale of Two Countries: Comparing the US and Chinese Housing Markets
Author: Lai, Rose Neng ; Van Order, Robert A.
Subjects: Comparative studies ; Economics ; Economics and Finance ; Financial Services ; Housing market ; Prices ; Prone ; Property values ; Regional/Spatial Science ; Scarcity
Is Part Of: The journal of real estate finance and economics, 2020-10, Vol.61 (3), p.505-547
Description: The recent surge in property values in China has been similar to the surge in the U.S before the crash in 2007. This raises concerns about whether China is destined to have a crash as well. We estimate similar models of property values for the two countries, in order to compare price dynamics side by side. We find little in common between them. In the U.S. the adjustment process appears prone to “bubbles” in the sense of strong momentum, but Chinese prices have been generally mean reverting, without momentum. This suggests that the recent price rise in China has had more to do with scarcity than with irrational exuberance.
Publisher: New York: Springer US
Language: English
Identifier: ISSN: 0895-5638
EISSN: 1573-045X
DOI: 10.1007/s11146-018-9670-3
Source: AUTh Library subscriptions: ProQuest Central

Back to results list


INSPIRE LIBRARY - TON DUC THANG UNIVERSITY	(84-028) 37 755 057	Feedback
19 Nguyen Huu Tho St. Dist.7, HCM	thuvien@tdtu.edu.vn	Feedback

Searching Remote Databases, Please Wait