Property Cycles, Speculative Bubbles and the Gross Income Multiplier
AbstractWe address in this study the question of whether significant price increases occurring during the up-phase of the property cycle can in part be explained by speculative bubble. The findings indicate that the Swedish market for income real estate may have been partly driven by a speculative bubble during the 1980’s. The conclusion is based on an analysis of panel data where the state of the property cycle is mirrored by the value of the Gross Income Multiplier.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 18 (1999)
Issue (Month): 1 ()
Contact details of provider:
Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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