Tracking Home-Owners’ Sentiments: Subjective Indices and Convergent Validity
نویسندگان
چکیده
Abstract Surveys regularly ask home-owners to guess what their property might be worth in the current housing market. We develop suitable statistical techniques construct hedonic and repeat-sales style house price indices from these owner-estimated values (OEVs). The resulting series are then linked a large set of quality-adjusted residential estimated transaction data allowing us perform variety convergent validity tests. Based on results for 20 countries, several decades different OEV elicitation techniques, we conclude that “wisdom home-owner crowd” is sufficient study objective dynamics. Yet, surveys fail accurately measure levels.
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ژورنال
عنوان ژورنال: Journal of Real Estate Finance and Economics
سال: 2023
ISSN: ['0895-5638', '1573-045X']
DOI: https://doi.org/10.1007/s11146-023-09949-w