Abstract
The Southern California Housing Bubble
Track: Business GIS
Author(s): Johannes Moenius, Mak Kaboudan, Satish Thosar, Avijit Sarkar
Much of the research on the housing market has focused on either macroeconomic influences or the effect of house-specific characteristics on house prices. Macroeconomic influences, like changes in interest rates, suggest that house-prices should roughly move in the same direction and by similar orders of magnitude following a change in a macro-variable. In contrast, the research on house-specific characteristics, the so called hedonic approach, tries to determine the contribution of individual characteristics of houses, like the number of bedrooms and the size of the lot, to the valuation of properties. Both approaches fail to explain the geographic concentration of the housing bubble. The panel discusses approaches that help shed light on this issue.
The panel will present an in depth analysis of how the geographic links of assets (via 'comparables') are linked to the geographic concentration of financial risk, thus further fueling the bubble.
Johannes Moenius
University of Redlands
P.O. Box 3080
Redlands , California 92373
United States
Phone: (909) 793-2121
E-mail: johannes_moenius@redlands.edu
Mak Kaboudan
University of Redlands School of Business
PO Box 3080
Redlands , California 92373
United States
Phone: 909-748-8772
E-mail: mak_kaboudan@redlands.edu
Satish Thosar
University of Redlands School of Business
PO Box 3080
Redlands , California 92373
United States
Phone: 909-748-8787
E-mail: satish_thosar@redlands.edu
Avijit Sarkar
University of Redlands School of Business
PO Box 3080
Redlands , California 92373
United States
Phone: 909-748-8783
E-mail: avijit_sarkar@redlands.edu