Please use this identifier to cite or link to this item:
https://hdl.handle.net/10620/18089
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Windsor, Callan | - |
dc.contributor.author | La Cava, Gianni | - |
dc.contributor.author | Hansen, James | - |
dc.date.accessioned | 2019-04-13T03:41:01Z | en |
dc.date.accessioned | 2014-05-29T03:53:19Z | en |
dc.date.available | 2014-05-29T03:53:19Z | en |
dc.date.issued | 2014-05-19 | - |
dc.identifier.uri | https://hdl.handle.net/10620/18089 | en |
dc.identifier.uri | http://hdl.handle.net/10620/4010 | en |
dc.description.abstract | We document some new stylised facts about how Australian homeowners value their homes using household panel data and unit-record data on home sale prices. We find that homeowners' price beliefs are unbiased at the postcode level, on average, although there is considerable dispersion in the difference between beliefs and prices across postcodes. Household characteristics, such as age and tenure, and the regional unemployment rate are correlated with differences between beliefs and prices. We also find evidence that the difference between beliefs and prices has explanatory power for average household consumption, leverage and portfolio decisions after controlling for the market-inferred value of the home. These facts provide empirical evidence to support recent literature on the importance of belief formation for household decision-making. | en |
dc.subject | Housing | en |
dc.subject | Beliefs and Values | en |
dc.subject | Housing -- Intentions | en |
dc.title | Home Price Beliefs in Australia | en |
dc.type | Reports and technical papers | en |
dc.identifier.url | http://www.rba.gov.au/publications/rdp/2014/2014-04.html | en |
dc.identifier.survey | HILDA | en |
dc.description.institution | Reserve Bank of Australia | en |
dc.title.report | Research Discussion Paper | en |
dc.description.keywords | Housing | en |
dc.description.keywords | Consumer behaviour | en |
dc.description.keywords | Beliefs | en |
dc.description.pages | 41 | en |
dc.title.series | Research Discussion Papers | en |
local.identifier.id | 4490 | en |
dc.publisher.city | Sydney | en |
dc.description.additionalinfo | RDP 2014-04 The Australian property price data used in this publication are sourced from Australian Property Monitors Pty Limited ACN 061 438 006 of level 5, 1 Darling Island Road Pyrmont NSW 2009 (P: 1 800 817 616). In providing these data, Australian Property Monitors relies upon information supplied by a number of external sources (including the governmental authorities referred to below). These data are supplied on the basis that while Australian Property Monitors believes all the information provided will be correct at the time of publication, it does not warrant its accuracy or completeness and to the full extent allowed by law excludes liability in contract, tort or otherwise, for any loss or damage sustained by you, or by any other person or body corporate arising from or in connection with the supply or use of the whole or any part of the information in this publication through any cause whatsoever and limits any liability it may have to the amount paid to the Publisher for the supply of such information. | en |
dc.subject.dss | Housing, communities and neighbourhoods | en |
dc.subject.dss | Identity | en |
dc.subject.dssmaincategory | Beliefs and Values | en |
dc.subject.dssmaincategory | Housing | en |
dc.subject.dsssubcategory | Intentions | en |
dc.subject.flosse | Identity | en |
dc.subject.flosse | Housing, communities and neighbourhoods | en |
dc.relation.survey | HILDA | en |
dc.old.surveyvalue | HILDA | en |
item.openairecristype | http://purl.org/coar/resource_type/c_18cf | - |
item.cerifentitytype | Publications | - |
item.grantfulltext | none | - |
item.openairetype | Reports and technical papers | - |
item.fulltext | No Fulltext | - |
Appears in Collections: | Reports |
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