@article{ART003090251},
author={Yu， Sanggyun and Rhee, Hyok-Joo},
title={Examining Price Changes in Apartments in Seoul},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2024},
volume={34},
number={2},
pages={57-71},
doi={10.35136/krer.34.2.4}
TY - JOUR
AU - Yu， Sanggyun
AU - Rhee, Hyok-Joo
TI - Examining Price Changes in Apartments in Seoul
JO - Korea Real Estate Review
PY - 2024
VL - 34
IS - 2
PB - korea real estate research institute
SP - 57
EP - 71
SN - 2092-5395
AB - During President Moon’s 5-year term, housing prices in Seoul increased by 62%, leading to widespread public uproar and ultimately his removal from office. Many factors have been proposed as potential explanations including speculation, the pandemic, excessive global liquidity, household debt, insufficient housing supply, and the government’s frequent policy interventions in the market. We simulate the impact of government factors on housing prices, considering them as exogenous variables (regime factor) and endogenous variables (policy interventions). In addition to the pandemic-induced price hike, most price increases under the Moon administration can be attributed to government factors. In May 2022, the conservative government succeeded the Moon government, leading to a rapid mean reversion of the house price to the long-run price.
KW - Housing Price;Government Factor;Mean Reversion;Vector Autoregressive Model
DO - 10.35136/krer.34.2.4
ER -
Yu， Sanggyun and Rhee, Hyok-Joo. (2024). Examining Price Changes in Apartments in Seoul. Korea Real Estate Review, 34(2), 57-71.
Yu， Sanggyun and Rhee, Hyok-Joo. 2024, "Examining Price Changes in Apartments in Seoul", Korea Real Estate Review, vol.34, no.2 pp.57-71. Available from: doi:10.35136/krer.34.2.4
Yu， Sanggyun, Rhee, Hyok-Joo "Examining Price Changes in Apartments in Seoul" Korea Real Estate Review 34.2 pp.57-71 (2024) : 57.
Yu， Sanggyun, Rhee, Hyok-Joo. Examining Price Changes in Apartments in Seoul. 2024; 34(2), 57-71. Available from: doi:10.35136/krer.34.2.4
Yu， Sanggyun and Rhee, Hyok-Joo. "Examining Price Changes in Apartments in Seoul" Korea Real Estate Review 34, no.2 (2024) : 57-71.doi: 10.35136/krer.34.2.4
Yu， Sanggyun; Rhee, Hyok-Joo. Examining Price Changes in Apartments in Seoul. Korea Real Estate Review, 34(2), 57-71. doi: 10.35136/krer.34.2.4
Yu， Sanggyun; Rhee, Hyok-Joo. Examining Price Changes in Apartments in Seoul. Korea Real Estate Review. 2024; 34(2) 57-71. doi: 10.35136/krer.34.2.4
Yu， Sanggyun, Rhee, Hyok-Joo. Examining Price Changes in Apartments in Seoul. 2024; 34(2), 57-71. Available from: doi:10.35136/krer.34.2.4
Yu， Sanggyun and Rhee, Hyok-Joo. "Examining Price Changes in Apartments in Seoul" Korea Real Estate Review 34, no.2 (2024) : 57-71.doi: 10.35136/krer.34.2.4
