VOLATILE HOUSING PRICES, RESIDENTIAL INVESTMENTS AND THE BUSINESS CYCLES

Siwapong Uruyos (), Ahmad Chaman (), Nye Wusin () and Mario Phichinni ()
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Siwapong Uruyos: Faculty of Economics, Chulalongkorn University, Phayathai Road, Bangkok
Ahmad Chaman: Department of Development Studies, Faculty of Economics and Administration, University of Malaya
Nye Wusin: School of Social Sciences, Universiti Sains Malaysia
Mario Phichinni: Department of Economics, Bocconi University, Via Roberto Sarfatti, 25, 20100 Milano

Journal of Smart Economic Growth, 2018, vol. 3, issue 1, 13-24

Abstract: The housing markets have played an important role in driving macroeconomic fluctuations, especially during the recent financial crisis. Residential investment is a form of real estate investment that constitutes one of the world most valuable assets due to its durability. Housing investment is an important component of household wealth. There are a lot of factors that affect the demand and supply of housing investment. We investigate the correlation between housing dynamics and the business cycle for a variety of countries. Our empirical results exhibit the two daunting facts of the housing market, especially in the United States.

Keywords: housing market; lead-lag relationship; the business cycle (search for similar items in EconPapers)
Date: 2018
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