Local House Price Comovements.
| Item Type | Forthcoming |
| Abstract | We study the microlevel evolution of residential house prices using data on repeat sales on Manhattan Island from 2004 to 2015. We document that price comovement, even within a ZIP code, is a highly local and persis-tent phenomenon. The strength of such comovements vanishes with both spatial and temporal distance. Local underperformance is more persistent than local overper-formance, particularly when house prices on aggregate level increase. |
| Authors | Fischer, Marcel; Füss, Roland & Stehle, Simon |
| Journal or Publication Title | Real Estate Economics |
| Language | English |
| Subjects | economics finance |
| HSG Classification | contribution to scientific community |
| HSG Profile Area | SOF - System-wide Risk in the Financial System |
| Refereed | Yes |
| Date | 20 August 2020 |
| Publisher | Wiley |
| Place of Publication | Online |
| Number of Pages | 30 |
| Publisher DOI | 10.1111/1540-6229.12331 |
| Official URL | https://doi.org/10.1111/1540-6229.12331 |
| Depositing User | Beatrix Kobelt-Glock |
| Date Deposited | 18 Feb 2021 14:48 |
| Last Modified | 03 Mar 2021 01:24 |
| URI: | https://www.alexandria.unisg.ch/publications/262361 |
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CitationFischer, Marcel; Füss, Roland & Stehle, Simon (2020) Local House Price Comovements. Real Estate Economics, Statisticshttps://www.alexandria.unisg.ch/id/eprint/262361
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