The Role of Speculation in Real Estate Cycles

By S. Malpezzi, Susan M. Wachter. 2002

286 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/3b5f20d6d022384f041a9fa560babe70165d17c7

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. M. Aalbers
2. Frank H. Westerhoff
3. Roberto Dieci
4. Haifang Huang
5. Yao Tang
6. Kyung-Hwan Kim
7. Y. Freemark

In Economics and Econometrics

1. Roberto Dieci
2. Frank H. Westerhoff
3. M. Aalbers
4. F. Savini
5. Haifang Huang
6. Yao Tang
7. Kyung-Hwan Kim
8. Y. Freemark

In Finance

1. M. Aalbers
2. Frank H. Westerhoff
3. F. Savini
4. Roberto Dieci
5. Haifang Huang
6. Yao Tang
7. Kyung-Hwan Kim
8. Y. Freemark

Citations in the corpus

• The de-contextualisation of land use planning through financialisation: Urban redevelopment in Milan (2016, background): “While downtown redevelopment took place, large businesses began to acquire underused vacant land in outer areas with the expectation of no-end urban growth and strategies of positional speculation (Malpezzi and Wachter, 2005).”
• Upzoning Chicago: Impacts of a Zoning Reform on Property Values and Housing Construction (2020, background): “Because of the lagged supply response (Malpezzi and Wachter 2005), this took a longer time to occur than the increase in property values.”
• Housing and the Korean economy (2004, background): “Although the microeconomic issues of housing policy are not a major topic of this paper, various regulations have made housing supply very inelastic and contributed to volatility of house prices (see Kim, 1993; Renaud, 1993; Malpezzi and Wachter, 2002 ).1”
• A simple model of a speculative housing market (2012, background): “…expectations about future prices. b 0=StD R tD tP 5 Note that in theoretical real estate literature, a similar simplifying view has been adopted in a number of studies focusing on the impact of speculative demand on real estate cycles (see, e.g. Malpezzi and Wachter 2005 and references therein).”
• Residential Land Use Regulation and the US Housing Price Cycle Between 2000 and 2009 (2012, background): “The instrumental variable is the forecast of employment growth based on individual cities' industrial composition and the state-wide trend in employment growth by industries.”