The first step on the housing ladder : a natural experiment in Hong Kong

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

7 Citations (Scopus)

Abstract

The article presents and illuminates evidence, based on recent Hong Kong experience, indicating the existence of a "housing ladder effect" when housing prices increase or decrease. An increase of housing equity at the bottom of the ladder tends to translate into a trading up activity that will both increase housing market turnover and buoy up the entire housing market. Based on a natural experiment through the introduction of a public housing privatization scheme, this article demonstrates the importance of the first step on the housing ladder using a logit model.
Original languageEnglish
Pages (from-to)59-67
Number of pages9
JournalJournal of Housing Economics
Volume18
Issue number1
DOIs
Publication statusPublished - 1 Mar 2009

Fingerprint

Hong Kong
Housing market
Natural experiment
Turnover
Equity
Housing prices
Public housing
Evidence-based
Logit model
Privatization

Keywords

  • Housing ladder
  • Ladder effect
  • Logit model
  • Natural experiment
  • Public housing privatization

Cite this

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title = "The first step on the housing ladder : a natural experiment in Hong Kong",
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The first step on the housing ladder : a natural experiment in Hong Kong. / HO, Lok Sang; WONG, Wai Chung, Gary.

In: Journal of Housing Economics, Vol. 18, No. 1, 01.03.2009, p. 59-67.

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

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