Real Estate Speculation: Anticipation and Investment

This lecture covers the concept of real estate speculation, focusing on the role of anticipation in determining property prices and investment decisions. The instructor explains how high anticipation of future prices justifies current prices, emphasizing the importance of rational expectations in the real estate market. The lecture also discusses the distinction between rational and naive anticipations, highlighting the impact of these expectations on investment outcomes. Furthermore, it explores the notion of rational speculation and the factors influencing investment decisions. The session concludes with a reflection on the nature of speculation in real estate and its potential consequences, such as the formation of property bubbles.