Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/47892
Authors: 
Dascher, Kristof
Year of Publication: 
2010
Series/Report no.: 
Discussion paper series // University of Freiburg, Department of International Economic Policy 11
Abstract: 
This paper argues that homeowners, if sufficiently influential, may attempt to manipulate housing prices. The paper presents an instance of, and sets out the political economy behind, one particular homeowner-made housing price bubble (in East Germany). Yet ultimately the paper suggests that homeowners may be responsible for housing price bubbles elsewhere, too. Namely, US homeowners may be the single driving force behind the latest US housing price boom that preceded the current real estate, and financial, crisis.
Subjects: 
Homeowner Majority
Rent Persistence
Ratchet Effect
Policy Reform
JEL: 
R21
H73
D61
Document Type: 
Working Paper

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