Status Competition and Housing Prices
---- Acknowledgements -----
This research is supported by U.S. National Science Foundation grant SES-1024574, which we gratefully acknowledge. The authors would like to thank Kyle Bagwell, V. Bhaskar, Qingyuan Du, Neng Wang and seminar and conference participants at Columbia University, Hong Kong University of Science and Technology, Shanghai Advanced Institute of Finance, University of Hong Kong, University of Southern California, and University of Virginia for helpful discussions, Joy Glazener and Jin Yang for assistance. All errors are the authors' responsibilities. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.