State-Space Modeling of Housing Sentiment for Regressing Changes of Real Estate Prices Following Short-Term Control Policy in China
Taiyi Zang,
Hongmei Gu
Abstract:Government may need to launch policies to stabilize real estate prices being away from unusual rise at an unexpected pace through short-term regulations of sales and purchases. Short-term control policies are often not effective immediately after withdrawal, but their effect easily attracts swift and intensive responses of consumer sentiments. The change in sentiment synchronizes with that of expectations, which together account for housing price in response to restrictions following short-term policies. The r… Show more
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