Predictability of housing prices in the times of crises: new trends, methodologies, and techniques

Housing assets serve dual roles as both sources of consumption and investments. Therefore, gaining a comprehensive understanding of housing price (HP) predictability is crucial for making informed investment decisions and for effective asset allocation (Dufitinema, 2021). This importance becomes even more pronounced during periods of global crises, as history has revealed that the housing market can exert significant influence over banking systems, private consumption, mortgage markets, asset portfolios and entire economies (Agarwal and Varshneya, 2022). In recent decades, the world has faced several notable challenges, such as the global financial crisis, the UK’s decision to exit the European Union (Brexit), the tragic events of September 11, 2001, the global energy crisis in 2021 and the recent COVID-19 pandemic.