Fry, J. M. (2009): Bubbles and contagion in English house prices.
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Using methods originating from statistical physics we model bubbles in English house prices. It is found that there was a nationwide housing bubble 2002-2007. Typically prices were 30-40% over-valued and fell around 20%. London is atypical in that the level of over-pricing was lower, only around 20%, and experienced a drop in prices of only around 15%. There is some suggestion of contagious effects, with the bubble in London affecting prices in Yorkshire and the North.
|Item Type:||MPRA Paper|
|Original Title:||Bubbles and contagion in English house prices|
|Keywords:||financial crashes; super-exponential growth; illusion of certainty; contagion; housing-bubble; Enlish house prices|
|Subjects:||C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C53 - Forecasting and Prediction Methods; Simulation Methods
C - Mathematical and Quantitative Methods > C0 - General
R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R11 - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
C - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General
|Depositing User:||John Fry|
|Date Deposited:||07. Oct 2009 18:43|
|Last Modified:||20. Feb 2013 17:42|
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