Homeowner-made Housing Price Bubbles - East Germany's Example -
AbstractThis paper argues that homeowners, if suffciently infuential, 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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Department of International Economic Policy, University of Freiburg in its series Discussion Paper Series with number 11.
Length: 19 pages
Date of creation: Feb 2010
Date of revision: Feb 2010
Contact details of provider:
Postal: Kollegiengebäde II, Platz der Alten Synagoge, 79085 Freiburg
Phone: +49 +761 / 203 2301
Fax: +49 +761 / 203 2303
Web page: http://www.vwl.uni-freiburg.de/iwipol/sopo.htm
More information through EDIRC
Homeowner Majority; Rent Persistence; Ratchet Effect; Policy Reform;
Find related papers by JEL classification:
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
- H73 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Interjurisdictional Differentials and Their Effects
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
This paper has been announced in the following NEP Reports:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Jennifer Hunt, 2006. "Staunching Emigration from East Germany: Age and the Determinants of Migration," Journal of the European Economic Association, MIT Press, vol. 4(5), pages 1014-1037, 09.
- Oswald Andrew J., 1996. "A Conjecture on the Explanation for High Unemployment in the Industrialized Nations : Part I," The Warwick Economics Research Paper Series (TWERPS) 475, University of Warwick, Department of Economics.
- Gerlinde Sinn & Hans-Werner Sinn, 1994. "Jumpstart: The Economic Unification of Germany," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262691728, January.
- Glaeser Edward L & Gyourko Joseph, 2008. "The Case against Housing Price Supports," The Economists' Voice, De Gruyter, vol. 5(6), pages 1-8, October.
- Olsen, Edgar O. & Barton, David M., 1983. "The benefits and costs of public housing in New York City," Journal of Public Economics, Elsevier, vol. 20(3), pages 299-332, April.
- Thiess Büttner & Alexander Ebertz, 2007.
"Quality of Life in the Regions - Results for German Counties,"
Ifo Working Paper Series
Ifo Working Paper No. 49, Ifo Institute for Economic Research at the University of Munich.
- Thiess Buettner & Alexander Ebertz, 2009. "Quality of life in the regions: results for German Counties," The Annals of Regional Science, Springer, vol. 43(1), pages 89-112, March.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Günther G. Schulze).
If references are entirely missing, you can add them using this form.