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In an op-ed, Profs Maggiori & Stroebel discuss their research findings on real estate price bubbles

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Excerpt from VoxEU -- "In Giglio, Maggiori, and Stroebel (2014), we provide direct tests for the presence of infinitely-lived bubbles. We exploit a unique feature of residential housing markets in the UK and Singapore, where property ownership takes the form of either very long-term leaseholds or freeholds."

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Additional coverage appeared on The Wall Street Journal.