Title

Domino effects within a housing market : the transmission of house price changes across quality tiers

Document Type

Journal article

Source Publication

The Journal of Real Estate Finance and Economics

Publication Date

11-1-2008

Volume

37

Issue

4

First Page

299

Last Page

316

Abstract

We argue that shocks to a housing market are transmitted through the hierarchy of quality tiers within a housing market. The result is the prediction of waves of house price changes accompanied by changes in transaction volume. Our study is related to existing models of spatial ripple effects across housing markets. The data are from the Hong Kong housing market. The findings from Granger causality tests strongly support the argument that domino effects within a single housing market occur in response to external shocks.

DOI

10.1007/s11146-007-9070-6

Print ISSN

08955638

E-ISSN

1573045X

Publisher Statement

Copyright © 2008 Springer US

Access to external full text or publisher's version may require subscription.

Full-text Version

Publisher’s Version

Recommended Citation

Ho, L. S., Ma, Y., & Haurin, D. R. (2008). Domino effects within a housing market: The transmission of house price changes across quality tiers. The Journal of Real Estate Finance and Economics, 37(4), 299-316. doi: 10.1007/s11146-007-9070-6