Redirigiendo al acceso original de articulo en 20 segundos...
ARTÍCULO
TITULO

Boom-Bust Housing Price Dynamic: The Case of Malaysia

Yip Chee Yin    
Woo Kok Hoong    
Oon Kam Hoe    
Nabihah Binti Aminaddin    
Nurfadhilah Binti Abu Hasan    

Resumen

This paper aims to differentiate housing price bubble from a housing price cycle through the investigation and analysis of the price volatility driving components using graphical analysis, cointegrating regression and mean reversion regression. The findings suggest that Malaysia is not facing any housing bubble at the point of time since there is no sharp upsurge and rapid fall of house prices. The recent upswing in house prices followed by a gradual coming down rather reflect a severe price cycle which started in 2009. The peak was observed in 2013 and since then has reversed into a continuous but gradual fall. The cycle is persisting and has not bottomed out yet.  Our results show that the main reasons for the price booms are speculative herd instinct and lax in house loan lending policy before 2012. Subsequently the various anti cooling measures by the Malaysian government have helped to control price expansion.Keywords: Stability test, Cointegrating regression, Mean reversion regression, Bubbles, CyclesJEL Classifications: R3, N2, G1, J10

 Artículos similares

       
 
Hussain Mohammed A. Al Obaid     Pág. 150 - 157
Against the backdrop of real estate development and rising prices, which affect the affordability of housing in Saudi Arabia, this study empirically estimates housing demand using time-series analysis from 1987 to 2016. To find the main factors affecting... ver más

 
Jeerawadee Pumjaroen,Preecha Vichitthamaros,Yuthana Sethapramote     Pág. 47 - 57
The study proposes a partial least squares structural equation modeling (PLS-SEM) evaluating the relationship among composite leading indices (CLIs) to forecast the economic cycle (EC) instead of using only individual CLI. The model of quarterly data in ... ver más

 
Dusan Paredes,Enrique Guilles,Carlos Páez,Antonio Avendaño     Pág. 35 - 46
Despite the literature on urban economics has devoted a lot of attention to analyzing housing demand and its adjustment dynamics across markets, not a similar attention has been given to housing supply. In particular, there is limited knowledge on the wa... ver más

 
Hadi Setiawan,Achmad Firdiansjah,Junianto Tjahjo Darsono     Pág. 142 - 148
This study aims to analyze the influence of price and product quality to customer loyalty; analyze the influence of customer satisfaction on customer loyalty and analyze the influence of price, product quality to customer loyalty through customer satisfa... ver más

 
Andre Tomfort     Pág. 46 - 55
Asset price bubbles and deep financial crises have occurred frequently over the past three decades. No wonder that decision makers are searching for ways to protect their economies. Recognizing price bubbles in time could be very helpful in this regard t... ver más