A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Housing demand, regional house prices and consumption
Thesis: S.M. in Management Science Research, Massachusetts Institute of Technology, Sloan School of Management, 2018. ; Cataloged from PDF version of thesis. ; Includes bibliographical references (pages 24-25). ; This paper provides a new explanation for regional variation in the 2000-2012 housing and consumption boom and bust. Cities with a greater share of growing industries experienced larger housing demand shocks, larger house price increases from 2001-2006 and greater price declines from 2006-2011. Consistent with theory, price effects were stronger in housing-supply inelastic cities. City-level differences in housing demand are also correlated with supply elasticity. Controlling for industry, I estimate a durables consumption-house price elasticity of 0.08 from 2001-2006, 60% smaller than estimates without the controls. Post- 2006, the estimated elasticity is 0.19 and housing prices rather than local conditions explain consumption changes. ; by Carl J. Liebersohn. ; S.M. in Management Science Research
Housing demand, regional house prices and consumption
Thesis: S.M. in Management Science Research, Massachusetts Institute of Technology, Sloan School of Management, 2018. ; Cataloged from PDF version of thesis. ; Includes bibliographical references (pages 24-25). ; This paper provides a new explanation for regional variation in the 2000-2012 housing and consumption boom and bust. Cities with a greater share of growing industries experienced larger housing demand shocks, larger house price increases from 2001-2006 and greater price declines from 2006-2011. Consistent with theory, price effects were stronger in housing-supply inelastic cities. City-level differences in housing demand are also correlated with supply elasticity. Controlling for industry, I estimate a durables consumption-house price elasticity of 0.08 from 2001-2006, 60% smaller than estimates without the controls. Post- 2006, the estimated elasticity is 0.19 and housing prices rather than local conditions explain consumption changes. ; by Carl J. Liebersohn. ; S.M. in Management Science Research
Housing demand, regional house prices and consumption
2018-01-01
1051454057
Theses
Electronic Resource
English
DDC:
720
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