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Author Dascher, Kristof
Source EconStor
Content type Text
Publisher University of Freiburg, Department of International Economic Policy (iep)
File Format PDF
Language English
Subject Domain (in DDC) Social sciences ♦ Economics
Subject Keyword Homeowner Majority ♦ Rent Persistence ♦ Ratchet Effect ♦ Policy Reform ♦ Wohnimmobilien ♦ Immobilienpreis ♦ Bubbles ♦ Manipulation ♦ Wohneigentum ♦ Public Choice ♦ Neue Bundesländer ♦ Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand ♦ State and Local Government; Intergovernmental Relations: Interjurisdictional Differentials and Their Effects ♦ Allocative Efficiency; Cost-Benefit Analysis
Abstract This paper argues that homeowners, if sufficiently influential, may attempt to manipulate housing prices. The paper presents an instance of, and sets out the political economy behind, one particular homeowner-made housing price bubble (in East Germany). Yet ultimately the paper suggests that homeowners may be responsible for housing price bubbles elsewhere, too. Namely, US homeowners may be the single driving force behind the latest US housing price boom that preceded the current real estate, and financial, crisis.
Part of series Discussion Paper Series x11
Learning Resource Type Article
Publisher Date 2010-01-01
Publisher Place Freiburg
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