Seeking Alpha in the Housing Market

Michael LaCour-Little () and Jing Yang ()
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Michael LaCour-Little: California State University at Fullerton
Jing Yang: California State University at Fullerton

The Journal of Real Estate Finance and Economics, 2023, vol. 67, issue 3, No 1, 319-374

Abstract: Abstract We examine short term trades in the housing market over the period 2000–2013 using nationally representative data across multiple U.S. housing markets. Such trades, often characterized as “house flipping”, have gained currency in recent years with reality television shows depicting success and failure. We find evidence of returns in excess of market house price index growth (which we call alpha) during certain time periods with results that also vary across distressed versus non-distressed acquisition strategies.

Keywords: House flip; Arbitrage; Distressed sales (search for similar items in EconPapers)
JEL-codes: R20 R30 R31 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s11146-021-09853-1

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