Is there a relationship between the price of a house and the way people\u2019s attitudes and beliefs about the housing market are conveyed in news stories?<\/p>\n
\u201cIn the United States, if the tone of articles express confidence in the housing market, this appears to lead to higher housing prices,\u201d says Brock Professor of Finance Ernest Biktimirov.<\/p>\n
The effect is less clear in Canada and other countries, where housing and credit markets are subject to a different set of rules and regulations, he says.<\/p>\n
Biktimirov and his team are studying the impact of \u2018news media sentiment\u2019 \u2014 people\u2019s attitudes and beliefs expressed in news media \u2014 on Canadian, Australian and U.K. housing markets.<\/p>\n
Biktimirov is one of nine Brock University researchers to recently receive an Insight Development Grant from the Social Sciences and Humanities Research Council of Canada (SSHRC). SSHRC awarded Brock University $501,559 in Insight Development Grants for 2021.<\/p>\n
Vice-President, Research Tim Kenyon says he is pleased by the number of Insight Development Grant recipients this year.<\/p>\n
“Our researchers’ curiosity and creativity have propelled them to expand into novel areas, contributing fresh insights on issues that are important to society,” he says.<\/p>\n
“We are grateful for this funding, which shows great support for our scholars’ innovation.”<\/p>\n
Biktimirov, Professor of Finance Tatyana Sokolyk and Professor of Finance, Operations and Information Systems Anteneh Ayanso will also identify specific topics that drive housing media sentiment, and examine if and how news media sentiment affected house price movements during the 2008 recession and the 2020 COVID pandemic.<\/p>\n
\u201cOur research results will help develop recommendations on house price movements for households, real estate investors and developers, regulators and policymakers,\u201d says Biktimirov, adding that the housing market has become \u201cthe world\u2019s largest asset class,\u201d worth three times as much as all publicly traded stocks worldwide.<\/p>\n
Brock recipients of the 2021 Insight Development Grants are:<\/p>\n