Housing market cycles in large urban areas
Huthaifa Alqaralleh and
Alessandra Canepa ()
Economic Modelling, 2020, vol. 92, issue C, 257-267
This paper examines the behaviour of house prices in large metropolitan areas. Using a sample of metropolises it is shown that real estate prices are largely nonlinear. It is found that dynamic asymmetries in the housing market cycle can well be modelled using a logistic smooth transition model (LSTAR). Further, it is found that the LSTAR specification has better forecasting properties with respect to other linear and nonlinear models.
Keywords: Housing markets; Asymmetric cycles; Metropolises; Non-linear models (search for similar items in EconPapers)
JEL-codes: C10 C31 C33 (search for similar items in EconPapers)
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Working Paper: Housing Market Cycles in Large Urban Areas (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:92:y:2020:i:c:p:257-267
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