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
UR - http://www.scopus.com/inward/record.url?scp=54249093382&partnerID=8YFLogxK
U2 - 10.1007/s11146-007-9070-6
DO - 10.1007/s11146-007-9070-6
M3 - Journal Article (refereed)
SN - 0895-5638
VL - 37
SP - 299
EP - 316
JO - The Journal of Real Estate Finance and Economics
JF - The Journal of Real Estate Finance and Economics
IS - 4
ER -