Understanding Rationality and Disagreement in House Price Expectations

The authors thank Pulsenomics for making their micro survey data available for academic research. One of the authors is a participant in the Pulsenomics survey. He has not received any compensation for this participation nor has Pulsenomics had any say in the content of this article. The authors thank Alina Arifeva, Hongye Guo (discussant), Zhiguo He, William Larson, Haoyang Liu (discussant), Liyan Yang, Anthony Yezer, and conference participants at the AREUEA National Meeting and the Sixth CEIBS Finance and Accounting Symposium. The authors thank Zhu Zheyang for excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.