Bubbles, Busts, Breaks, and Segmentation

William Miles

Journal of Housing Research, 2014, vol. 23, issue 1, 57-72

Abstract: Given the recent turmoil in the housing market in the United States, several papers have examined whether price dynamics in municipalities displayed a structural change, which would suggest bubble and bust behavior. Some papers, however, either impose a particular break date or examine only a small subset of American cities. In this paper, I employ a more comprehensive set of tests for breaks in price parameters. I find significant breaks in some of the more prominent bubble cities in the mid-to-late 2000s, which indicates a boom-bust cycle. However, in many smaller MSAs, no such breaks occurred, signifying a high level of segmentation in the U.S. housing market.

Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10835547.2013.12092079 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rjrhxx:v:23:y:2014:i:1:p:57-72

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rjrh20

DOI: 10.1080/10835547.2013.12092079

Access Statistics for this article

Journal of Housing Research is currently edited by Kimberly Goodwin

More articles in Journal of Housing Research from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().