| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5054903 | Economic Modelling | 2013 | 12 Pages |
Abstract
⺠A model of the housing market is presented, where sellers may become distressed. ⺠A unique equilibrium exists where distressed sellers attempt liquidation sales. ⺠Buyers deliberately hold off purchasing and slow down the speed of trade. ⺠This behavior - 'predation' - causes more sellers to become distressed. ⺠The model suggests several proxies of liquidity, which we discuss in detail.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Cemil Selcuk,