"U.S. House Price Dynamics and Behavioral Economics"
Policymaking Insights on Behavioral Economics
Editor(s): Christopher L. Foote, Lorenz Goette, and Stephan Meier
© Federal Reserve Bank of Boston,
September
2007
Pages: 261-95
Publication type: Chapter
Research Archive Topic: Business Economics and Public Policy, Corporate Finance, Real Estate
Abstract
There has been considerable debate in recent years regarding the role of behavioral factors in determining housing prices. The question of whether psychology matters in the housing market has been settled long ago: the answer is yes. Rather, economists are now debating in what ways psychology impacts market behavior and how large an effect this impact has on housing prices.
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