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 ReviewsRGC 21 - Publication in refereed journalpeer-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 languageEnglish
Pages (from-to)299-316
JournalJournal of Real Estate Finance and Economics
Volume37
Issue number4
DOIs
Publication statusPublished - Nov 2008
Externally publishedYes

Research Keywords

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

Fingerprint

Dive into the research topics of 'Domino effects within a housing market: The transmission of house price changes across quality tiers'. Together they form a unique fingerprint.

Cite this