Abstract
Using spectral analysis, prices of two Irish house vintages are investigated for hidden periodicities. What emerges is a major periodicity consistent with an Irish business cycle. A further hidden intermediate cycle in second-hand housing, that is common to all areas of Eire but featured not nearly so prominently in new housing, is posited to be related to life events and space stress. By revisiting the housing market more often, the repeat buyer injects additional volatility in house prices. It is proposed that housing policy should be directed at reducing the number of repeat buyers as a means of deflating property bubbles.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.