We simulate the effects of unseasonable increases in temperature and precipitation on housing starts and completions in each of the four Census regions. Using an overidentified vector autoregression model the dynamics of housing starts and completions are estimated. The persistence of housing activity over time implies that weather shocks also have long-lasting effects, though the impact seems large only in the North Central region. Copyright American Real Estate and Urban Economics Association.
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Article provided by American Real Estate and Urban Economics Association in its journal Real Estate Economics.
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