Domino effects within a housing market : the transmission of house price changes across quality tiers

Lok Sang HO, Yue MA, Donald R. HAURIN

Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

30 Citations (Scopus)

Abstract

We argue that shocks to a housing market are transmitted through the hierarchy of quality tiers within a housing market. The result is the prediction of waves of house price changes accompanied by changes in transaction volume. Our study is related to existing models of spatial ripple effects across housing markets. The data are from the Hong Kong housing market. The findings from Granger causality tests strongly support the argument that domino effects within a single housing market occur in response to external shocks.
Original languageEnglish
Pages (from-to)299-316
Number of pages18
JournalThe Journal of Real Estate Finance and Economics
Volume37
Issue number4
DOIs
Publication statusPublished - 1 Nov 2008

Fingerprint

Housing market
House prices
Price changes
Ripple effect
Granger causality test
Prediction
External shocks
Hong Kong

Cite this

@article{c766cc467a204bbd90f76b532c404283,
title = "Domino effects within a housing market : the transmission of house price changes across quality tiers",
abstract = "We argue that shocks to a housing market are transmitted through the hierarchy of quality tiers within a housing market. The result is the prediction of waves of house price changes accompanied by changes in transaction volume. Our study is related to existing models of spatial ripple effects across housing markets. The data are from the Hong Kong housing market. The findings from Granger causality tests strongly support the argument that domino effects within a single housing market occur in response to external shocks.",
author = "HO, {Lok Sang} and Yue MA and HAURIN, {Donald R.}",
year = "2008",
month = "11",
day = "1",
doi = "10.1007/s11146-007-9070-6",
language = "English",
volume = "37",
pages = "299--316",
journal = "Journal of Real Estate Finance and Economics",
issn = "0895-5638",
publisher = "Springer Netherlands",
number = "4",

}

Domino effects within a housing market : the transmission of house price changes across quality tiers. / HO, Lok Sang; MA, Yue; HAURIN, Donald R.

In: The Journal of Real Estate Finance and Economics, Vol. 37, No. 4, 01.11.2008, p. 299-316.

Research output: Journal PublicationsJournal Article (refereed)Researchpeer-review

TY - JOUR

T1 - Domino effects within a housing market : the transmission of house price changes across quality tiers

AU - HO, Lok Sang

AU - MA, Yue

AU - HAURIN, Donald R.

PY - 2008/11/1

Y1 - 2008/11/1

N2 - We argue that shocks to a housing market are transmitted through the hierarchy of quality tiers within a housing market. The result is the prediction of waves of house price changes accompanied by changes in transaction volume. Our study is related to existing models of spatial ripple effects across housing markets. The data are from the Hong Kong housing market. The findings from Granger causality tests strongly support the argument that domino effects within a single housing market occur in response to external shocks.

AB - We argue that shocks to a housing market are transmitted through the hierarchy of quality tiers within a housing market. The result is the prediction of waves of house price changes accompanied by changes in transaction volume. Our study is related to existing models of spatial ripple effects across housing markets. The data are from the Hong Kong housing market. The findings from Granger causality tests strongly support the argument that domino effects within a single housing market occur in response to external shocks.

UR - http://commons.ln.edu.hk/sw_master/411

U2 - 10.1007/s11146-007-9070-6

DO - 10.1007/s11146-007-9070-6

M3 - Journal Article (refereed)

VL - 37

SP - 299

EP - 316

JO - Journal of Real Estate Finance and Economics

JF - Journal of Real Estate Finance and Economics

SN - 0895-5638

IS - 4

ER -