The Suburban Housing Market: Effects of City and Suburban Employment Growth
AbstractUsing a data set of over 88,000 housing sales, we find that city employment growth has a significant positive effect on suburban house values; this effect is largest for housing closest to the central business district and declines with increasing distance from it. City employment growth has a negative effect on the rate of suburban house construction; the magnitude of the effect increases with distance. Suburban employment growth has little aggregate effect on house prices, and there is less variation by distance. Suburban growth has a significant effect on construction rates, especially at locations near the urban fringe. Copyright American Real Estate and Urban Economics Association.
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Bibliographic InfoArticle provided by American Real Estate and Urban Economics Association in its journal Real Estate Economics.
Volume (Year): 27 (1999)
Issue (Month): 4 ()
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- Richard Voith, 1996. "The suburban housing market: effects of city and suburban employment growth," Working Papers 96-15, Federal Reserve Bank of Philadelphia.
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- Marion Kohler & Kylie Smith, 2005. "Housing and the Household Wealth Portfolio: The Role of Location," RBA Research Discussion Papers rdp2005-10, Reserve Bank of Australia.
- Baum-Snow, Nathaniel & Kahn, Matthew E., 2000. "The effects of new public projects to expand urban rail transit," Journal of Public Economics, Elsevier, vol. 77(2), pages 241-263, August.
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- Osland, Liv & Thorsen, Inge, 2007. "Predicting housing prices at alternative locations and in alternative scenarios of the spatial job distribution," Working Papers in Economics 16/07, University of Bergen, Department of Economics.
- Elio H Londero, 2004. "Measuring Benefits, Tracing Distributional Effects, and Affecting Distributional Outcomes," Public Economics 0407011, EconWPA.
- Richard Voith, 1996. "The suburban housing market: the effects of city and suburban job growth," Business Review, Federal Reserve Bank of Philadelphia, issue Nov, pages 13-25.
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