Unpacking the relation between media sentiment and house prices: A topic modeling approach

Ernest N. Biktimirov, Tatyana Sokolyk and Anteneh Ayanso

Journal of Housing Economics, 2024, vol. 66, issue C

Abstract: This study uses a topic modeling approach to investigate the relation between news media sentiment and house price movements. By examining real estate related articles published in local newspapers of 16 major cities in Canada and Australia, we find that housing media sentiment has significant relation with future house price movements in the Canadian market but not in the Australian market. We identify the specific topics discussed in news media related to the housing market and report differences in their themes and media sentiment's predictive power between Canada and Australia. This analysis presents novel inferences of qualitative and hard-to-quantify information related to the housing market in two different countries.

Keywords: House prices; Media sentiment; Real estate prices; Textual analysis; Topic modeling (search for similar items in EconPapers)
JEL-codes: G12 G14 G17 R30 R31 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jhouse:v:66:y:2024:i:c:s1051137724000445

DOI: 10.1016/j.jhe.2024.102025

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