House Price Momentum and Strategic Complementarity.

House prices exhibit substantially more momentum, positive autocorrelation in price changes, than existing theories can explain. I introduce an amplification mechanism to reconcile this discrepancy. Sellers do not set a unilaterally high or low list price because they face a concave demand curve: in...

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Bibliographic Details

Published in:	Journal of Political Economy Vol. 126; no. 3; pp. 1172 - 1219
Main Author:	Guren, Adam M.
Format:	Article
Published:	University of Chicago Press Jun2018
Subjects:	Prices Housing market Home prices Demand function Home sales
Online Access:	View this record in EBSCOhost