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"Disequilibrium in Housing Models," Journal of Finance, May 1972, 207-221.
pdf file.



This papers outlines a general model of housing and mortgage markets based on the housing and mortgage model in my overall forecasting model--see Chapter 8 in 1971#5--and then critiques a number of other models within this framework. The stress is on disequilibrium issues, which were an important part of the housing and mortgage markets at this time.