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Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/3112
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dc.contributor.authorMizuno, Mitsuruen_UK
dc.contributor.authorTabner, Isaacen_UK
dc.date.accessioned2018-01-25T09:51:44Z-
dc.date.available2018-01-25T09:51:44Zen_UK
dc.date.issued2011-05en_UK
dc.identifier.urihttp://hdl.handle.net/1893/3112-
dc.description.abstractUsing quarterly data from 1960 (UK), 1963 (US) and 1977 (Japan) through Q2 2010 (all three markets) we examine long run mean reverting relationships between house prices and: inflation, disposable income, GDP and rents. After adjusting for estimated drift and trend coefficients; we find that at the end of Q2 2010, US prices are below their mean reverting levels and at the lower end of their historic range. In contrast, equivalent UK and Japanese prices are at, or slightly above, their mean reverting levels. Furthermore, the expansion in Japanese prices during the late 1980s and early 1990s far surpassed any expansions observed in the US or the UK, over the observation period.en_UK
dc.language.isoenen_UK
dc.publisherCFA Instituteen_UK
dc.relationMizuno M & Tabner I (2011) The Margin of Safety and Turning Points in House Prices: Observations from Three Developed Markets [The Margin of Safety and House Price Turning Points: Observations from the US, the UK and Japan]. Financial Analysts Journal, 67 (3), pp. 76-93. https://doi.org/10.2469/faj.v67.n3.6en_UK
dc.rightsCopyright now assigned to the Financial Analysts Journal, CFA Institute.; The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author; you can only request a copy if you wish to use this work for your own research or private study.en_UK
dc.rights.urihttp://www.rioxx.net/licenses/under-embargo-all-rights-reserveden_UK
dc.subjectHousehold Financeen_UK
dc.subjectHouse Pricesen_UK
dc.subjectYield Indexen_UK
dc.subjectHousing Pricesen_UK
dc.subjectInflation (Finance)en_UK
dc.subjectDisposable incomeen_UK
dc.titleThe Margin of Safety and Turning Points in House Prices: Observations from Three Developed Marketsen_UK
dc.title.alternativeThe Margin of Safety and House Price Turning Points: Observations from the US, the UK and Japanen_UK
dc.typeJournal Articleen_UK
dc.rights.embargodate3000-01-01en_UK
dc.rights.embargoreason[Japanese and UK House Prices FAJ Accepted Revisions STORRE 200111.pdf] The publisher does not allow this work to be made publicly available in this Repository therefore there is an embargo on the full text of the work.en_UK
dc.identifier.doi10.2469/faj.v67.n3.6en_UK
dc.citation.jtitleFinancial Analysts Journalen_UK
dc.citation.issn1938-3312en_UK
dc.citation.issn0015-198Xen_UK
dc.citation.volume67en_UK
dc.citation.issue3en_UK
dc.citation.spage76en_UK
dc.citation.epage93en_UK
dc.citation.publicationstatusPublisheden_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusAM - Accepted Manuscripten_UK
dc.author.emailisaac.tabner@stir.ac.uken_UK
dc.contributor.affiliationNihon Universityen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.identifier.isiWOS:000291232600009en_UK
dc.identifier.scopusid2-s2.0-79959692471en_UK
dc.identifier.wtid842726en_UK
dc.contributor.orcid0000-0003-3738-7301en_UK
dcterms.dateAccepted2011-05-31en_UK
dc.date.filedepositdate2011-06-23en_UK
rioxxterms.typeJournal Article/Reviewen_UK
rioxxterms.versionAMen_UK
local.rioxx.authorMizuno, Mitsuru|en_UK
local.rioxx.authorTabner, Isaac|0000-0003-3738-7301en_UK
local.rioxx.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate3000-01-01en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/under-embargo-all-rights-reserved||en_UK
local.rioxx.filenameJapanese and UK House Prices FAJ Accepted Revisions STORRE 200111.pdfen_UK
local.rioxx.filecount1en_UK
local.rioxx.source0015-198Xen_UK
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