Previous research has shown that nonlocal household investors make suboptimal asset selection and market timing decisions. However, in real estate markets, heterogeneity in returns can exist even w...

中文翻译：

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“我们将永远有巴黎”：住房市场中的国外买家

先前的研究表明，非本地家庭投资者会做出次优的资产选择和市场时机决策。但是，在房地产市场中，即使存在收益回报，也可能存在异质性。