Sean Davis schreef op 4 februari 2019 14:26:
[...]
Lol wat een debiele uitspraak.
Nog zon eentje die appels met peren vergelijkt om zo met onzinnigr statistieken zijn punt probeert te maken.
The effect of real rates of interest on housing prices
Jack C Harris
The Journal of Real Estate Finance and Economics 2 (1), 47-60, 1989
During the late 1970s, U.S. house prices were appreciating rapidly even though mortgage interest rates were climbing. Recently, interest rates have eased but prices have moderated. This study examines the role of appreciation expectations in overcoming the negative effects of nominal mortgage interest rates on house prices. Expectations of future appreciation are important determinants of house sales prices, remaining influential during periods of declining and moderating real prices, not just when prices are rising. The real rate of interest, as viewed by the homebuyer, is the mechanism for affecting change in housing price levels. Because the nominal interest rate is slow to reflect changes in expectations, these real rates vary over time. This ebb and flow of real interest rates appears to explain market price levels. Nominal rates play a role as well, primarily in the formation of appreciation expectations.