This paper examines the dynamic interaction between regional housing prices in the United States. We use the copula method to explore the dependent distribution of housing prices in ten metropolitan statistical areas (MSAs) in three regions. The results generally show that changes in time-varying correlation result from different trends in regional housing prices. We regress housing price dynamic correlation on regional economic variables, finding that the economic co-movement mechanism determines the housing price correlation in the Western and Great Lakes regions, while the migration mechanism drives the housing price correlation in the Eastern region. We also find that economic co-movement is the main force driving the housing price correlation between regions.

We applied a linear structural equation model to explore the impact of information disclosure, social responsibility, trust, and attitude on consumers' loyalty to housing agents. Participants were 466 consumers and potential consumers of housing agency industry services, who completed a survey assessing the variables of interest. Results showed that information disclosure had a direct and significant impact on trust, and an indirect impact on trust through the mediator of corporate social responsibility (CSR), and that trust had an indirect and significant impact on loyalty through the mediator of attitude. The structural relationships among information disclosure, CSR, trust, and attitude should be acknowledged when discussing consumers' loyalty to housing agents.

In 2000, to efficiently implement land-use policies, the Taiwanese government amended the Agricultural Development Act by easing restrictions on agricultural land purchases. As a result of increasing land development and investment needs, agricultural land prices have surged. This study aims to examine whether agricultural land prices in Pingtung County are affected by land control policy measures, the pressure of agricultural land conversion and the degree of urbanization. A multilevel analysis approach was used to analyze land price differences in townships in Pingtung County. The estimation results derived from the null model indicated significant differences between the mean land price in each administrative division. Specifically, the ratio of agricultural land prices affected by differences in Level 2 township-related factors was 21.8%, while the ratio of those affected by differences in Level 1 land-related factors was 78.2%. An empirical intercepts-and-slopes-as-outcomes regression model demonstrated that Level 2 township-related factors, such as the pressure of agricultural land conversion and the degree of urbanization, had cross-level, direct and positive impacts on agricultural land prices; while Level 1 land-related factors, such as lot size control measures on farmhouse construction and land-use zoning, had positive and significant impacts on agricultural land prices.

This paper employ the discrete hidden Markov model (HMM) in order to Contribution/ OriginalityThis paper uses the HMM to capture the optimal path of state transition to observe the trends of fluctuations of out-of-sample data. The results confirm that trends of the real estate business cycle fluctuations are asymmetric and that the average duration of recession periods is longer than that of expansion periods.

This study examines the impact of living arrangements and social capital on the subjective well-being of the elderly, as well as the mutual effects and relationships between the well-being and self-rated health status of the elderly. A total of 369 questionnaires were administered, and the effective recovery rate was 98.10%. The results indicate three key findings: (1) the current location for aging in place, social support, social activities, house ownership, and self-rated health status are indispensable factors affecting the well-being of the elderly. The best location for aging in place was the community, where the elderly’s sense of well-being was highest—the next best options were aging at home and institutional care. (2) Elderly people with sole ownership of their homes were more likely to have higher levels of well-being than those owning jointly or who were tenants. (3) There was significant interaction between subjective well-being and self-rated health status.