Verlag:
School of Finance, University of St. Gallen, St. Gallen
We study the micro-level evolution of residential house prices using data on repeat sales on Manhattan Island from 2004 to 2015. We document that excess price comovement is a highly local and persistent phenomenon. The strength of such excess...
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ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
Signatur:
VS 314
Fernleihe:
keine Fernleihe
We study the micro-level evolution of residential house prices using data on repeat sales on Manhattan Island from 2004 to 2015. We document that excess price comovement is a highly local and persistent phenomenon. The strength of such excess comovements vanishes with both spatial and temporal distance. Local underperformance is more persistent than local overperformance - particularly when house prices on aggregate level increase
