First-home buyers and herding behavior in Surabaya, Indonesia

What is it about?

The decline of homeownership on a global scale is concerning, especially when 60% of the market represents young adults under the age of 35. We test the Perception Alignment Hypothesis to trace down herding influences in Surabaya, Indonesia. It finds that first home buyers are prone to herd and such behavior suggests that it may cause market instability.

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