W22258

NBER WORKING PAPER SERIES SOCIAL NETWORKS AND HOUSING MARKETS Michael Bailey Ruiqing Cao Theresa Kuchler Johannes Stroebel Working Paper 22258 http://www.nber.org/papers/w22258 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA... More

NBER WORKING PAPER SERIES SOCIAL NETWORKS AND HOUSING MARKETS Michael Bailey Ruiqing Cao Theresa Kuchler Johannes Stroebel Working Paper 22258 http://www.nber.org/papers/w22258 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2016 This version: May 10, 2016. For helpful comments and discussions, we are grateful to Eduardo Davila, Anthony DeFusco, Marty Eichenbaum, Xavier Gabaix, Pedro Gete, Stefano Giglio, Adam Guren, Erik Hurst, Anil Kashyap, Ben Keys, Andres Liberman, Guido Lorenzoni, Brigitte Madrian, Ulrike Malmendier, Holger Mueller, Stijn van Nieuwerburgh, Cecilia Parlatore, Alp Simsek, Andrei Shleifer, Joe Vavra, Andreas Weber, Arlene Wong, Wei Xiong, and Basit Zafar, as well as seminar participants at Berkeley, Harvard, NYU, Northwestern, Penn State, the University of British Columbia, the Federal Reserve Banks of San Francisco, Philadelphia, and New York, the Consumer Financial Protection Bureau, Baruch, CHUM, and the Christmas Meeting of Less