Property cycle
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A property cycle is a sequence of recurrent events reflected in demographic, economic and emotional factors that affect supply and demand for property subsequently influencing the property market.{{Cite journal |last=Derksen |first=J. B. D. |date=1940 |title=Long Cycles in Residential Building: An Explanation |url=https://www.jstor.org/stable/1907030 |journal=Econometrica |volume=8 |issue=2 |pages=97–116 |doi=10.2307/1907030 |issn=0012-9682}}{{Cite journal |last=Duca |first=John V. |last2=Muellbauer |first2=John |last3=Murphy |first3=Anthony |date=2021 |title=What Drives House Price Cycles? International Experience and Policy Issues |url=https://www.aeaweb.org/articles?id=10.1257/jel.20201325 |journal=Journal of Economic Literature |language=en |volume=59 |issue=3 |pages=773–864 |doi=10.1257/jel.20201325 |issn=0022-0515}} Cyclical patterns are a well-documented and consistent feature of housing markets.{{Cite journal |last=Murphy |first=Alvin |date=2018 |title=A Dynamic Model of Housing Supply |url=https://www.aeaweb.org/articles?id=10.1257/pol.20150297 |journal=American Economic Journal: Economic Policy |language=en |volume=10 |issue=4 |pages=243–267 |doi=10.1257/pol.20150297 |issn=1945-7731 |archive-url=https://web.archive.org/web/20141121134902id_/http://www.public.asu.edu:80/~amurph10/supply.pdf |archive-date=November 21, 2014}}