An Econometric Thermometer for Housing Fever

Impact

Description of impact

Professor Shuping Shi from Macquarie University and Professor Peter C. B. Phillips from Yale University launched the housing fever website in May 2020: www.housing-fever.com.

This website provides real-time bubble indicators for housing markets in the eight Australian capital cities and primary New Zealand regions. These indicators provide a direct quantitative measure of the extent of housing fever in these major metropolitan areas. The measures are benchmarked against housing and macroeconomic fundamentals so that they provide a statistical mechanism for assessing the existence and the degree of speculative behaviour in these housing markets.
Impact dateMay 2021