1 option
Forecasting Prices and Excess Returns in the Housing Market / Karl E. Case, Robert J. Shiller.
- Format:
- Book
- Author/Creator:
- Case, Karl E.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w3368.
- NBER working paper series no. w3368
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1990.
- Summary:
- The U. S. market for homes appears not to be efficient. A number of information variables predict housing price changes and excess returns of housing relative to debt over the succeeding year. Price changes observed over one year tend to continue for one more year in the same direction. Construction cost divided by price, the change in per capita real income, the change in adult population are all positively related to price changes or excess returns over the subsequent year.
- The results are based on time-series cross section regressions with quarterly data 1970-1 to 1987-3 and for cities Atlanta, Chicago, Dallas, and San Francisco.
- Notes:
- Print version record
- May 1990.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.