Prices and trading volume in the housing market
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Prices and trading volume in the housing market a model with downpayment effects by Jeremy C. Stein

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Published by National Bureau of Economic Research in Cambridge, MA .
Written in English

Subjects:

  • Housing -- Prices -- United States -- Econometric models.,
  • House buying -- Finance -- United States -- Econometric models.,
  • Housing -- United States -- Econometric models.

Book details:

Edition Notes

StatementJeremy C. Stein.
SeriesNBER working paper series -- working paper no. 4373, Working paper series (National Bureau of Economic Research) -- working paper no. 4373.
ContributionsNational Bureau of Economic Research.
The Physical Object
Pagination34, [8] p. :
Number of Pages34
ID Numbers
Open LibraryOL22436352M

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This paper presents a simple model of trade in the housing market. The crucial feature is that a minimum downpayment is required for the purchase of a new home. The model has direct implications for Cited by: Stein, Jeremy C. “Prices and Trading Volume in the Housing Market: A Model with Down-Payment Effects.” Quarterly Journal of Economics (May): Cited by: Get this from a library! Prices and trading volume in the housing market: a model with downpayment effects. [Jeremy C Stein; National Bureau of Economic Research.].   This paper presents a simple model of trade in the housing market. The crucial feature is that a minimum downpayment is required for the purchase of a new home. The model has direct implications for the volatility of house prices, as well as for the correlation between prices and trading by:

This paper presents a simple model of trade in the housing market. The crucial feature is that a minimum down payment is required for the purchase of a new home. The model has direct implications for the volatility of house prices, as well as for the correlation between prices and trading volume.   The significant price-trading volume correlation found in the residential property market presents a challenge to the rational expectation hypothesis. Existing theories account for this fact with either capital market imperfection (down-payment effect or loss-aversion consideration) or imperfect information (search theoretic models). This paper employs data from a commercial real estate market. Jeremy C. Stein, "Prices and Trading Volume in the Housing Market: A Model with Down-Payment Effects," The Quarterly Journal of Economics, Oxford University Press, vol. (2), pages .   Housing market cycles are featured by a positive correlation of prices and trading volume, which is conventionally attributed to a causal relationship between prices and volume.

In housing markets, there is a positive correlation between prices and trading volume. When there is a housing boom, many houses sell at, or even above, the prices asked by sellers. In times of bust, . Downloadable! This paper presents a simple model of trade in the housing market. The crucial feature is that a minimum downpayment is required for the purchase of a new home. The model has direct implications for the volatility of house prices, as well as for the correlation between prices and trading volume. The model can also be extended to address the correlation between prices . Housing market cycles are featured by a positive correlation of prices and trading volume, which is conventionally attributed to a causal relationship between prices and volume. This paper analyzes. Stock Trading & Investing Using Volume Price Analysis: Over worked examples Anna Coulling. out of 5 stars Kindle Edition. ,00 ₹ Reviews: