TY  - RPRT
        AU  - Fortin, Nicole M.
AU  - Hill, Andrew J.
AU  - Huang, Jeff
        TI  - Superstition in the Housing Market
        PY  - 2013/Jul/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 7484
        UR  - https://www.iza.org/publications/dp7484
        AB  - We provide the first solid evidence that Chinese superstitious beliefs can have significant effects on house prices in a North American market with a large immigrant population. Using real estate data on close to 117,000 house sales, we find that houses with address number ending in four are sold at a 2.2% discount and those ending in eight are sold at a 2.5% premium in comparison to houses with other addresses. These price effects are found either in neighborhoods with a higher than average percentage of Chinese residents, consistent with cultural preferences, or in repeated transactions, consistent with speculative behavior.
        KW  - housing markets efficiency
KW  - lucky Chinese numbers
KW  - superstition
KW  - immigration
        ER  -