Construct · 1 fields · 1 citations

money illusion in housing: a standalone construct

One name. One construct. A landmark on the map.

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Real estate economics

the mistake of comparing nominal mortgage rates with real rent growth, so that falling inflation makes buyers overvalue housing and fuels mispricing.

In real estate economics, money illusion in housing refers to the mistake of comparing nominal mortgage rates with real rent growth, so that falling inflation makes buyers overvalue housing and fuels mispricing. This meaning comes from Brunnermeier (2007) in Review of Financial Studies.[1]

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Nearby constructs

estate2 fields · 2 citationsjingle · one word, two carriers growth4 fields · 4 citationsjingle · one word, four constructs inflation3 fields · 4 citationsjingle · one word, three constructs

References

Brunnermeier, M. K., & Julliard, C. (2007). Money Illusion and Housing Frenzies. Review of Financial Studies, 21(1), 135-180. https://doi.org/10.1093/rfs/hhm043

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