【经管院每周系列讲座第338期】Prices and the Stock Market Betas of Housing: Evidence from Micro Data
主题：Prices and the Stock Market Betas of Housing: Evidence from Micro Data
This paper empirically tests whether the stock market betas of house price appreciation rates vary across houses with different prices. An analysis of about 6 million repeat sales in the U.S. over the 2000 to 2015 period suggests that pricier houses tend to have lower stock market betas. This result is robust across time, holding-period duration, and MSAs with different population and GDP growth rates, and remains significant when the model includes more stock market factors.