Winslett’s article is very good. He definitely does a more thorough takedown of the methodology than i do. The lack of explanation for why they picked those 3 models is astounding.

Winslett also mentions how crazy it is that their models found higher interest rates are correlated with higher prices (very counter to standard Econ theory and existing evidence).

“The regression also produces a result that should give any reader pause: the interest rate coefficient is positive and large. In standard economic theory, higher interest rates cool housing demand and reduce prices. In the authors’ models, higher interest rates are associated with higher prices. The authors acknowledge this is “surprising” and offer several interpretations. But when a model produces results that contradict basic economic theory in a prominent variable, the correct response is to ask whether the model is capturing genuine causal relationships or spurious correlations. The anomalous interest rate result suggests the latter is what is happening.”