{"id":719,"date":"2020-04-28T10:07:13","date_gmt":"2020-04-28T02:07:13","guid":{"rendered":"http:\/\/localhost:8888\/?p=719"},"modified":"2025-12-26T19:56:52","modified_gmt":"2025-12-26T11:56:52","slug":"a-rational-explanation-for-boom-and-bust-price-patterns-in-real-estate-markets","status":"publish","type":"post","link":"https:\/\/www.gssinst.org\/irer\/2020\/04\/28\/a-rational-explanation-for-boom-and-bust-price-patterns-in-real-estate-markets\/","title":{"rendered":"A Rational Explanation for Boom-and-Bust Price Patterns in Real Estate Markets"},"content":{"rendered":"\t\t
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<\/p>

Article<\/div>

A Rational Explanation for Boom-and-Bust Price Patterns in Real Estate Markets<\/p>

Author<\/p>

Start Page \/ End Page<\/p>

Volume<\/p>

Issue Number<\/p>

Year<\/p>

Publication<\/p><\/div>

<\/p>

Su Han Chan, Ko Wang, Jing Yang<\/p>

257 \/ 282<\/p>

14<\/p>

3<\/p>

2011<\/p>

International Real Estate Review<\/p><\/div>

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Abstract<\/p>


This paper develops a stylized model to provide a rational explanation for the boom-and-bust price movement pattern that we frequently observe in the real world. Our stylized model indicates that there are three conditions to form a boom-and-bust price pattern in a community: a move-in of high income residents, wide income gap between new and existing residents, and supply process that leads to an inventory buildup. It seems that, based on these three conditions, China is more likely to experience a boom-and-bust price movement pattern than a developed country with a more mature and less vibrant economy.<\/p>

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View PDF -https:\/\/doi.org\/10.53383\/100142<\/strong><\/a><\/p>

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Keywords<\/p>

<\/p>

Real Estate Cycles; Boom-and-Bust; Supply Decision; Moving Costs<\/p>

Back to Previous Page<\/a><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

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Author<\/p>\n

Start Page \/ End Page<\/p>\n

Volume<\/p>\n

Issue Number<\/p>\n

Year<\/p>\n

Publication<\/p>\n<\/div>\n

\n<\/p>\n

Su Han Chan, Ko Wang, Jing Yang<\/p>\n

257 \/ 282<\/p>\n

14<\/p>\n

3<\/p>\n

2011<\/p>\n

International Real Estate Review<\/p>\n<\/div>\n

Keywords<\/p>\n

Real Estate Cycles; Boom-and-Bust; Supply Decision; Moving Costs<\/p>\n

Download Entire Article.\"download-pdf-large\" <\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"article-template.php","format":"standard","meta":[],"categories":[105,104],"tags":[],"_links":{"self":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/719"}],"collection":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/comments?post=719"}],"version-history":[{"count":3,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/719\/revisions"}],"predecessor-version":[{"id":4932,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/posts\/719\/revisions\/4932"}],"wp:attachment":[{"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/media?parent=719"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/categories?post=719"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gssinst.org\/irer\/wp-json\/wp\/v2\/tags?post=719"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}