Towards Equivalence of Reynolds Number as Analytical Tool for Analysis of Housing Price Dynamics |
| M. Bełeja, S. Kuleszab
aUniversity of Warmia and Mazury in Olsztyn, Department of Spatial Analysis and Real Estate Market, ul. Prawocheńskiego 15, PL 10720 Olsztyn, Poland bUniversity of Warmia and Mazury in Olsztyn, Faculty of Mathematics and Computer Science, ul. Słoneczna 54, PL 10710 Olsztyn |
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| In hydrodynamics, the Reynolds number is used to establish the critical points between laminar (stable) and turbulent fluid dynamics. The essence of the presented research is the search for an analogy between the evolution of housing prices and hydrodynamic phenomena accompanying the movement of bodies in the incompressible fluid. The aim of the article is to develop an equivalent of the Reynolds number (eReHM) used in the hydrodynamics for its implementation for the housing price dynamics analysis. The time horizon of research (2001-2017) includes a period of rapid increases in housing prices in 2006-2007. The obtained values of the Reynolds number of equivalents for the housing market allow to determine critical points between the stable and unstable evolution of property prices. |
DOI:10.12693/APhysPolA.138.83 topics: Reynolds number, turbulent dynamics, housing market |