NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Speculators and Middlemen: The Role of Intermediaries in the Housing Market

Patrick Bayer, Christopher Geissler, James W. Roberts

NBER Working Paper No. 16784
Issued in February 2011

---- Acknowledgements -----

Previously circulated as "Speculators and Middlemen: The Role of Flippers in the Housing Market." We thank Ed Glaeser, Matt Kahn, Chris Mayer, Fernando Ferreira, Donghoon Lee, Andy Haughwout, Wilbert Van der Klauww, Steve Ross, Amine Ouazad, Todd Sinai, Joe Gyourko, the seminar participants at Harvard University, University of California at Berkeley and the Haas School of Business, University of Georgia, INSEAD, CREST, Northwestern University and Kellogg Business School, Duke-ERID Housing Market Dynamics Conference, HULM conference and the UCLA Housing Market Conference for their useful feedback on the paper. We are grateful for Duke University's financial support. Any errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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