%0 Journal Article
%T House Price Forecasts, Forecaster Herding, and the Recent Crisis
%A Christian Pierdzioch
%A Jan Christoph R¨¹lke
%A Georg Stadtmann
%J International Journal of Financial Studies
%D 2013
%I MDPI AG
%R 10.3390/ijfs1010016
%X We used the Wall Street Journal survey data for the period 2006¨C2012 to analyze whether forecasts of house prices and housing starts provide evidence of (anti-)herding of forecasters. Forecasts are consistent with herding (anti-herding) of forecasters if forecasts are biased towards (away from) the consensus forecast. We found that anti-herding is prevalent among forecasters of house prices. We also report that, following the recent crisis, the prevalence of forecaster anti-herding seems to have changed over time.
%K forecasts
%K house prices
%K housing starts
%K herding
%U http://www.mdpi.com/2227-7072/1/1/16