Transatlantic Differences in Real Estate Bubbles?

Bubbles in Real Estate Markets

The Political Causes of Real Estate Bubbles

A model which explains national-level house price appreciation through utility maximization by rational voters is developed and tested using a global sample of 40 democracies, in order to explain why some countries experienced house price bubbles in the past decade and others did not. In the model, a subsidy funded by a tax on all citizens can be provided to home buyers. The subsidy leads to an...

Financial Bubbles, Real Estate bubbles, Derivative Bubbles, and the Financial and Economic Crisis

The financial crisis of 2008, which started with an initially well-defined epicenter focused on mortgage backed securities (MBS), has been cascading into a global economic recession, whose increasing severity and uncertain duration has led and is continuing to lead to massive losses and damage for billions of people. Heavy central bank interventions and government spending programs have been la...

Nber Working Paper Series Real Estate Bubbles and Urban Development

Why are real estate bubbles so common? Can these bubbles actually do some good? Real estate booms have regularly occurred throughout the world leaving painful busts and financial crises in their wake. This paper suggests that real estate is a natural investment for more passive debt investors, including banks, because real estate’s flexibility makes it better collateral than specifically built ...

Essays in Real Estate Appraisal

This is an academic dissertation submitted in partial fulfilment of the requirements for the degree of Doctor of Technology. The dissertation consists of a short summary and discussion of seven enclosed essays. All seven papers are devoted to central issues within real estate appraisal and valuation, with emphasis on the market for income property. Essay I analyses the market prices for mixed-u...