Expectations and Urban Housing Prices

John McDonald

Urban Studies, 1985, vol. 22, issue 6, 543-549

Abstract: This paper presents a simple model of price expectations and urban housing prices. The empirical results for a sample of houses sold in the city of Chicago during 1970-1972 indicate that the expectation of nominal price increase, estimated as an extrapolation of past price increases in the neighborhood, have a significant impact on the current price.

Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:22:y:1985:i:6:p:543-549

DOI: 10.1080/00420988520080901

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