Has SARS Infected the Housing Market? Evidence from Hong Kong

23 Pages Posted: 3 Jul 2011

See all articles by Grace Wong Bucchianeri

Grace Wong Bucchianeri

University of Pennsylvania - Real Estate Department

Date Written: January 1, 2008

Abstract

This paper uses the 2003 Hong Kong Severe Acute Respiratory Syndrome (SARS) epidemic as a natural experiment to investigate how housing markets react to extreme events. An analysis of transaction volume suggests that the absence of price overreaction is likely to be related to housing market characteristics, including transaction costs, credit constraints and loss aversion.

JEL Classification: R31, R21

Suggested Citation

Bucchianeri, Grace Wong, Has SARS Infected the Housing Market? Evidence from Hong Kong (January 1, 2008). Journal of Urban Economics, Vol. 63, No. 1, p. 74, 2008, Available at SSRN: https://ssrn.com/abstract=1877212

Grace Wong Bucchianeri (Contact Author)

University of Pennsylvania - Real Estate Department ( email )

Philadelphia, PA 19104-6330
United States

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