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

Lok Sang Ho; Yue Ma; Donald R. Haurin

doi:10.1007/s11146-007-9070-6

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 Publications and Reviews › RGC 21 - Publication in refereed journal › peer-review

46 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. © 2007 Springer Science+Business Media, LLC.

Original language	English
Pages (from-to)	299-316
Journal	Journal of Real Estate Finance and Economics
Volume	37
Issue number	4
DOIs	https://doi.org/10.1007/s11146-007-9070-6
Publication status	Published - Nov 2008
Externally published	Yes

Research Keywords

Domino effect
Downpayment
Equity effects
Homeownership
Housing
Price dynamics
Privatization
Public housing
Ripple effect

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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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. {\textcopyright} 2007 Springer Science+Business Media, LLC.",

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AU - Haurin, Donald R.

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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. © 2007 Springer Science+Business Media, LLC.

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. © 2007 Springer Science+Business Media, LLC.

KW - Domino effect

KW - Downpayment

KW - Equity effects

KW - Homeownership

KW - Housing

KW - Price dynamics

KW - Privatization

KW - Public housing

KW - Ripple effect

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U2 - 10.1007/s11146-007-9070-6

DO - 10.1007/s11146-007-9070-6

M3 - RGC 21 - Publication in refereed journal

SN - 0895-5638

VL - 37

SP - 299

EP - 316

JO - Journal of Real Estate Finance and Economics

JF - Journal of Real Estate Finance and Economics

IS - 4

ER -

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

Abstract

Research Keywords

UN SDGs

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