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Segmented Housing Search


  • Martin Schneider

    (Stanford University)

  • Johannes Stroebel

    (Stanford University)

  • Monika Piazzesi

    (Stanford University)


This paper documents stylized facts on buyer and seller behavior across different segments of the housing market, and uses them to inform a search model with heterogeneous houses.

Suggested Citation

  • Martin Schneider & Johannes Stroebel & Monika Piazzesi, 2012. "Segmented Housing Search," 2012 Meeting Papers 670, Society for Economic Dynamics.
  • Handle: RePEc:red:sed012:670

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    References listed on IDEAS

    1. Patrick Bayer & Fernando Ferreira & Robert McMillan, 2007. "A Unified Framework for Measuring Preferences for Schools and Neighborhoods," Journal of Political Economy, University of Chicago Press, vol. 115(4), pages 588-638, August.
    2. Pablo Kurlat & Johannes Stroebel, 2015. "Testing for Information Asymmetries in Real Estate Markets," Review of Financial Studies, Society for Financial Studies, vol. 28(8), pages 2429-2461.
    3. Krainer, John, 2001. "A Theory of Liquidity in Residential Real Estate Markets," Journal of Urban Economics, Elsevier, vol. 49(1), pages 32-53, January.
    4. Allen Head & Huw Lloyd-Ellis & Hongfei Sun, 2014. "Search, Liquidity, and the Dynamics of House Prices and Construction," American Economic Review, American Economic Association, vol. 104(4), pages 1172-1210, April.
    5. repec:esx:essedp:717 is not listed on IDEAS
    6. Jeremy C. Stein, 1995. "Prices and Trading Volume in the Housing Market: A Model with Down-Payment Effects," The Quarterly Journal of Economics, Oxford University Press, vol. 110(2), pages 379-406.
    7. James Albrecht & Axel Anderson & Eric Smith & Susan Vroman, 2007. "Opportunistic Matching In The Housing Market," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 48(2), pages 641-664, May.
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    Cited by:

    1. Giorgio Primiceri & Andrea Tambalotti & Alejandro Justiniano, 2017. "The Mortgage Rate Conundrum," 2017 Meeting Papers 471, Society for Economic Dynamics.
    2. Piazzesi, M. & Schneider, M., 2016. "Housing and Macroeconomics," Handbook of Macroeconomics, Elsevier.
    3. repec:eee:jhouse:v:38:y:2017:i:c:p:14-24 is not listed on IDEAS
    4. Baltagi, Badi H. & Li, Jing, 2015. "Cointegration of matched home purchases and rental price indexes — Evidence from Singapore," Regional Science and Urban Economics, Elsevier, vol. 55(C), pages 80-88.
    5. Erlend Eide Bø, 2017. "Match quality in housing transactions. What can we learn from comparing buyers and sellers?," Discussion Papers 865, Statistics Norway, Research Department.
    6. Lerbs, Oliver & Teske, Markus, 2016. "The house price-vacancy curve," ZEW Discussion Papers 16-082, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    7. Hiller, Norbert & Lerbs, Oliver W., 2016. "Aging and urban house prices," Regional Science and Urban Economics, Elsevier, vol. 60(C), pages 276-291.
    8. Mark Merante & Keren Mertens Horn, 2016. "Is Home Sharing Driving up Rents? Evidence from Airbnb in Boston," Working Papers 2016_03, University of Massachusetts Boston, Economics Department.

    More about this item

    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • R30 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - General

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