How well do individuals predict the selling prices of their homes?

Abstract

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Testing for Micro‐efficiency in the Housing Market

“…This demonstrates that the market discovers what the hedonic model does not, namely, key omitted variables. In fact, using the ask price, which reflects the seller's knowledge of the unit (Benitez‐Silva et al., ; Windsor et al., ), we find the same phenomenon. Moreover, there is little sign of persistence when we consider a repeated cross‐section model in which we control for time‐invariant unit fixed effects.…”

Household Wealth in the Euro Area: The Importance of Intergenerational Transfers, Homeownership and House Price Dynamics

“…On the negative side, self-reported house prices are known for being slightly (usually in the order of <10%) biased upward (e.g. Ihlanfeldt and Martinez-Vazquez, 1986;Goodman and Ittner, 1992;Benítez-Silva et al, 2009). …”

Перспективные Форматы Жилья Эконом-Класса

“…Во-вторых, высокая ликвидность однокомнатных квартир как инструмента инвестирования, доступного для самостоятельной оценки. Согласно данным исследования в сфере жилищного строительства Америки, оценка рыночной стоимости жилья частными инвесторами допускает погрешность в 8% (Benítez-Silva, Eren, Heiland, Jiménez-Martín, 2015). Их доля в проектах домов «муравейников» может достигать 70%, а площадь квартир составлять в среднем 2530 кв.…”