House Price Expectations

Niu, Geng; Soest, Arthur van

doi:10.2139/ssrn.2514729

Cited by 10 publications

(4 citation statements)

References 53 publications

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“…The hypothesis is motivated by previous literature, as studies show that past local prices trends to positively affect price expectations for periods of up to five years; see e.g. Case et al (2012); Niu and van Soest (2014); Armona et al (2019).…”

Section: Formation Of Expectations: Derivation Of Hypothesismentioning

confidence: 97%

“…In a different context, Bailey et al (2018) show that housing decisions of distant friends on Facebook have effects on local behavior. Niu and van Soest (2014) show that medium run expectations are positively related to past house price developments and perceived economic conditions. Kindermann et al (2021), focusing on short term price expectations in Germany, find that renters have higher and more accurate price expectations.…”

Section: Introductionmentioning

confidence: 95%

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House price expectations

Gohl,

Haan,

Michelsen

et al. 2024

Journal of Economic Behavior & Organization

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Section: Formation Of Expectations: Derivation Of Hypothesismentioning

confidence: 97%

Section: Introductionmentioning

confidence: 95%

House price expectations

Gohl,

Haan,

Michelsen

et al. 2024

Journal of Economic Behavior & Organization

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“…1. Examples of other studies that included income and mortgage rates are: Chen and Patel (ss), Apergis (2003), Apergis and Rezitis (2003), Abelson et al (2005), Gallin (2006), Chen et al (2007), McQuinn and O’Reilly (2008), Rapach and Strauss (2009), Kim and Bhattacharya (2009), Mikhed and Zemcik ( 2009 ), Adams and Fuss (2010), Zhou (2010). Holly et al (2010), Madsen (2012), Apergis et al (2015), Antonakakis et al (2015), Bahmani-Oskooee and Ghodsi (2017), Bahmani-Oskooee and Ghodsi (2018), Baghestani and Viriyavipart (2019), Alexiou and Vogiazas (2019).…”

Section: Notesmentioning

confidence: 99%

“…They find that consumer sentiment is a significant exogenous variable in the pricing pattern of US residential real estate in the long-run. Niu and van Soest (2014) rely upon new survey data and analyze American households' subjective expectations on future home values. By exploring the relationship between house price expectations, local economic conditions and households' characteristics, they find that house price expectations vary over time and are positively related to past housing returns and perceived economic conditions.…”

Section: Introductionmentioning

confidence: 99%

Consumer sentiment and house prices: asymmetric evidence from state-level data in the United States

Bahmani‐Oskooee

Ghodsi²,

Hadzic

2021

IJHMA

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Purpose The purpose of this paper is to assess and compare the symmetric and asymmetric effects of consumer sentiment on house prices in each state of the USA. This is the first study that uses state-level data. Design/methodology/approach Both linear and nonlinear autoregressive distributed lag approaches are used to assess the asymmetric effects of consumer sentiment on house prices in each state of the USA. Findings When the authors estimated a linear symmetric model, this paper found short-run effects of consumer sentiment on house prices in 34 states that lasted into the long-run in only 13 states. The comparable numbers by estimating a nonlinear asymmetric model were 47 and 22, respectively. The increase in the number of states where consumer sentiment affects house prices was attributed to the nonlinear adjustments of consumer sentiment. Originality/value The authors deviate from previous research and assess the impact of consumer sentiment on house prices by using data from each state of the USA. The authors also deviate from previous research by demonstrating that the effects could be asymmetric. No study has done this at the state-level.

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Accuracy of Households’ Dwelling Valuations, Housing Demand and Mortgage Decisions: Israeli Case

Koblyakova

Fleishman²,

Furman³

2021

J Real Estate Finan Econ

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Housing policy, as well as academic research, are increasingly concerned with the role of bias in subjective dwelling valuations as a proximate measure of households’ house price expectations and their relationship with housing demand. This paper contributes to this area of study by exploring the possibility of simultaneous relationships between households’ price expectations and incentive to maximise the size of housing services demanded also accounting for the supply side factors and regional perspective. The empirical estimation takes the form of a system of a two simultaneous equations model applying two stage least squares estimation technique. Cross sectional estimations utilise data extracted from the Israeli Longitudinal Panel Survey (LPS) data. Applying the best available proxy for households’ price expectations, calculated as the ratio between subjective dwelling valuations (LPS) and the estimated market value of the same properties, research has identified the interrelated factors that simultaneously influence householders’ price expectations and housing demand. Results offer conceptual and empirical advantages, highlighting the imperfect nature of the housing market, as reflected by the inseparability of bias in subjective valuations and housing decisions.

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House Price Expectations

Cited by 10 publications

References 53 publications

House price expectations

House price expectations

Consumer sentiment and house prices: asymmetric evidence from state-level data in the United States

Accuracy of Households’ Dwelling Valuations, Housing Demand and Mortgage Decisions: Israeli Case

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