TY  - JOUR
A1  - Gohl, Niklas
A1  - Haan, Peter
A1  - Michelsen, Claus
A1  - Weinhardt, Felix
T1  - House price expectations
T2  - Journal of economic behavior & organization
N2  - This study examines short-, medium-, and long-run price expectations in housing markets. At the heart of our analysis is the combination of data from a tailored in-person household survey, past sale offerings, satellite imagery on developable land, and an information treatment (RCT). As novel finding, we show that price expectations show no evidence for momentum-effects in the long run. We also do not find much evidence for behavioural biases in expectations related to individual housing tenure decisions. Confirming existing findings, we find momentum-effects in the short-run and that individuals, to a limited extend, use aggregate price information to update local expectations. Lastly, we provide suggestive evidence corroborating existing findings that expectations are relevant for portfolio choice.
Y1  - 2023
UR  - https://publishup.uni-potsdam.de/frontdoor/index/index/docId/63230
SN  - 0167-2681
SN  - 1879-1751
VL  - 218
SP  - 379
EP  - 398
PB  - Elsevier
CY  - Amsterdam
ER  -