@techreport{9d18092dc37942d9af0d4e517e66eac6,
title = "The housing ladder and Hong Kong housing market{\textquoteright}s boom and bust cycle",
abstract = "This paper presents evidence, based on the recent Hong Kong experience, for the existence of a “housing ladder effect.” 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 papers presents evidence supporting this story using a logit model and a price-volume causality test.",
author = "HO, \{Lok Sang\} and WONG, \{Gary Wai-chung\}",
note = "Support from the RGC Grants Committee of Hong Kong (LU3008/00H) is gratefully acknowledged.",
year = "2008",
month = apr,
language = "English",
series = "Centre for Public Policy Studies Working Paper Series",
publisher = "Centre for Public Policy Studies",
number = "190",
address = "Hong Kong, China",
type = "WorkingPaper",
institution = "Centre for Public Policy Studies",
}