The study looked at how house prices and stock prices in Thailand are related. They used data from 1995 to 2006 and found that stock prices influence house prices, showing a one-way relationship. This means that when stock prices go up, house prices also go up. The study also found that real activity affects both house and stock prices, and stock prices can impact real output and prices in general. This suggests that a stable stock market is important for a stable housing market and economy in Thailand.