Homeowner-made Housing Price Bubbles - East Germany's Example -
This 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.
|Date of creation:||Feb 2010|
|Date of revision:||Feb 2010|
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- 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.
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- 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.
- 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.
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