Patterns and determinants of metropolitan house prices, 1977-91:
Real metropolitan house prices have been quite volatile during the 1977-91 period, with half of our 30 areas having annual increases of above 15 percent in a single year and a third having decreases greater than 7.5 percent. Drawing on Capozza and Helsley's models of real land prices, we expres...
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
NBER
1992
|
| Series: | Working paper series / National Bureau of Economic Research
4196 |
| Summary: | Real metropolitan house prices have been quite volatile during the 1977-91 period, with half of our 30 areas having annual increases of above 15 percent in a single year and a third having decreases greater than 7.5 percent. Drawing on Capozza and Helsley's models of real land prices, we express real house price changes as a function of the rate of change in employment, real income growth, real construction cost inflation, and changes in real after-tax interest rates. Our explanatory power varies widely by region. We do quite well for the half of our cities in the more stable Upper Midwest and Southeast, less well for the coastal cities, and dismally for the two Texas cities. |
| Physical Description: | 27, [10] S. graph. Darst. |
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| indexdate | 2024-07-09T21:25:06Z |
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| language | English |
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| spelling | Abraham, Jesse M. Verfasser aut Patterns and determinants of metropolitan house prices, 1977-91 Jesse M. Abraham ; Patric H. Hendershott Cambridge, Mass. NBER 1992 27, [10] S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 4196 Real metropolitan house prices have been quite volatile during the 1977-91 period, with half of our 30 areas having annual increases of above 15 percent in a single year and a third having decreases greater than 7.5 percent. Drawing on Capozza and Helsley's models of real land prices, we express real house price changes as a function of the rate of change in employment, real income growth, real construction cost inflation, and changes in real after-tax interest rates. Our explanatory power varies widely by region. We do quite well for the half of our cities in the more stable Upper Midwest and Southeast, less well for the coastal cities, and dismally for the two Texas cities. Hendershott, Patric H. Verfasser (DE-588)128736593 aut National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 4196 (DE-604)BV002801238 4196 |
| spellingShingle | Abraham, Jesse M. Hendershott, Patric H. Patterns and determinants of metropolitan house prices, 1977-91 |
| title | Patterns and determinants of metropolitan house prices, 1977-91 |
| title_auth | Patterns and determinants of metropolitan house prices, 1977-91 |
| title_exact_search | Patterns and determinants of metropolitan house prices, 1977-91 |
| title_exact_search_txtP | Patterns and determinants of metropolitan house prices, 1977-91 |
| title_full | Patterns and determinants of metropolitan house prices, 1977-91 Jesse M. Abraham ; Patric H. Hendershott |
| title_fullStr | Patterns and determinants of metropolitan house prices, 1977-91 Jesse M. Abraham ; Patric H. Hendershott |
| title_full_unstemmed | Patterns and determinants of metropolitan house prices, 1977-91 Jesse M. Abraham ; Patric H. Hendershott |
| title_short | Patterns and determinants of metropolitan house prices, 1977-91 |
| title_sort | patterns and determinants of metropolitan house prices 1977 91 |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT abrahamjessem patternsanddeterminantsofmetropolitanhouseprices197791 AT hendershottpatrich patternsanddeterminantsofmetropolitanhouseprices197791 |