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House Prices, fundamentals and Inflation
This paper studies actual house prices relative to fundamental house prices. Using UK data and a time-varying present value approach, we find that deviations of house prices from their fundamental value (as warranted by ...
House prices and bubbles in New Zealand
Much of bubble literature centred on financial markets.
Dominant theory – if prices deviate from fundamental value for some time then a bubble is said to exist.
Bubbles usually characterised in three main ways:
● momentum: ...