Search Results

No results found.

(refine search)
SORT BY: PREVIOUS / NEXT
Author:Hjalmarsson, Randi 

Working Paper
Efficiency in Housing Markets: Do Home Buyers Know how to Discount?

We test for efficiency in the market for Swedish co-ops by examining the negative relationship between the sales price and the present value of future monthly payments or `rents'. If the co-op housing market is efficient, the present value of co-op rental payments due to underlying debt obligations of the cooperative should be fully reflected in the sales price. However, we find that, on average, a one hundred kronor increase in the present value of future rents only leads to an approximately 75 kronor reduction in the sales price; co-ops with higher rents are thus relatively overpriced ...
International Finance Discussion Papers , Paper 879

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

G14 1 items

R21 1 items

R31 1 items

FILTER BY Keywords

PREVIOUS / NEXT