Fundamentals and irrationalities in Norwegian housing prices
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A housing price model is built to analyze whether there is a housing bubble in the Norwegian housing market. The model is built based on the general de nition of nancial bubbles. Fundamentals in the family level are then introduced in order that empirical data in the household level can be used for analysis. Empirical data conducted by SSB in 2012 are investigated. No bubble is concluded in the current Norwegian housing market.