Information Salience and Mispricing in Housing

The authors benefited from the comments of Johan Almenberg, Gene Amromin, Souphala Chomsisengphet, Walter D’Lima, Samuli Knupfer, Øyvind Norli, Diane Pierret, Ivan Png, Nagpurnanand Prabhala, Wenlan Qian, Tarun Ramadorai, Michael Reher, Amit Seru, Nick Souleles, Bogdan Stacescu, Roberto Steri, and seminar participants at the National University of Singapore, École Supérieure des Sciences Economiques et Commerciales, Bedrift˛konomisk Institutt Norwegian Business School, Higher School of Economics Moscow, Barcelona Graduate School of Economics, American Real Estate Society meetings (2017), European Real Estate Society meetings (2019), and the Midwest Finance Association. The authors thank Eiendomsverdi and Ambita companies for providing them with the data. An earlier version of the paper was titled “Salience and mispricing: Homebuyers’ housing decisions.”