House prices and fundamental value

• Main Authors: KRAINER, John, WEI, Chi Shen
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2004
• Subjects: Residential housing prices; house price bubble; price-rent ratio; housing value; United States; Finance and Financial Management; Real Estate
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/6777; https://ink.library.smu.edu.sg/context/lkcsb_research/article/7776/viewcontent/HousePrices_el2004_27.pdf
• Institution: Singapore Management University

The performance of the residential housing market over the last ten years has been remarkable. According to the Office of Federal Housing Enterprise Oversight (OFHEO), house prices have appreciated at an annual rate of 5.4% on average (68.9% over the whole time period). Perhaps even more remarkable...