Advanced Search
MyIDEAS: Login to save this article or follow this journal

House price differentials and dynamics: evidence from the Los Angeles and San Francisco metropolitan areas

Contents:

Author Info

  • Stuart A. Gabriel
  • Joe P. Mattey
  • William L. Wascher

Abstract

This paper applies insights from economic theory to explain recent housing price patterns in California's two largest metropolitan areas. We pay particular attention to the role of migration between metropolitan areas in explaining overall housing price dynamics for a given metropolitan area, and we show how household mobility within a metropolitan area tends to attenuate price pressures in the most supply-constrained places. In reviewing various models' ability to explain California's house price patterns, we also provide some historical perspective on California's urban structure, population growth, and housing price trends.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.frbsf.org/econrsrch/econrev/99-1/3-22.pdf
Our checks indicate that this address may not be valid because: 404 Not Found. If this is indeed the case, please notify (Diane Rosenberger)
Download Restriction: no

Bibliographic Info

Article provided by Federal Reserve Bank of San Francisco in its journal Economic Review.

Volume (Year): (1999)
Issue (Month): ()
Pages: 3-22

as in new window
Handle: RePEc:fip:fedfer:y:1999:p:3-22:n:1

Contact details of provider:
Postal: P.O. Box 7702, San Francisco, CA 94120-7702
Phone: (415) 974-2000
Fax: (415) 974-3333
Email:
Web page: http://www.frbsf.org/
More information through EDIRC

Order Information:
Email:

Related research

Keywords: Housing - Prices ; San Francisco (Calif.) ; Los Angeles (Calif.);

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Stephen Malpezzi, 1994. "Housing Prices, Externalities, and Regulation in U.S. Metropolitan Areas," Wisconsin-Madison CULER working papers, University of Wisconsin Center for Urban Land Economic Research 94-08, University of Wisconsin Center for Urban Land Economic Research.
  2. Stuart A. Gabriel & Joe P. Mattey & William L. Wascher, 1995. "The demise of California reconsidered: interstate migration over the economic cycle," Economic Review, Federal Reserve Bank of San Francisco, Federal Reserve Bank of San Francisco, pages 30-48.
  3. Gabriel, Stuart A. & Mattey, Joe P. & Wascher, William L., 2003. "Compensating differentials and evolution in the quality-of-life among U.S. states," Regional Science and Urban Economics, Elsevier, Elsevier, vol. 33(5), pages 619-649, September.
  4. Meese Richard & Wallace Nancy, 1994. "Testing the Present Value Relation for Housing Prices: Should I Leave My House in San Francisco?," Journal of Urban Economics, Elsevier, vol. 35(3), pages 245-266, May.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Norman Miller & Liang Peng & Michael Sklarz, 2011. "House Prices and Economic Growth," The Journal of Real Estate Finance and Economics, Springer, Springer, vol. 42(4), pages 522-541, May.
  2. David E. Frame, 2008. "Regional Migration and House Price Appreciation," International Real Estate Review, Asian Real Estate Society, Asian Real Estate Society, vol. 11(1), pages 96-112.
  3. Karl Case & John Cotter & Stuart Gabriel, 2010. "Housing Risk and Return: Evidence From a Housing Asset-Pricing Model," Working Papers, Geary Institute, University College Dublin 201005, Geary Institute, University College Dublin.
  4. Rangan Gupta & Stephen M. Miller, 2009. "The Time-Series Properties of House Prices: A Case Study of the Southern California Market," Working Papers, University of Nevada, Las Vegas , Department of Economics 0912, University of Nevada, Las Vegas , Department of Economics, revised Dec 2009.
  5. John Krainer, 1999. "Real estate liquidity," Economic Review, Federal Reserve Bank of San Francisco, Federal Reserve Bank of San Francisco, pages 14-26.
  6. Quigley, John M. & Raphael, Steven & Smolensky, Eugene, 2002. "Homeless in America, Homeless in California," Berkeley Program on Housing and Urban Policy, Working Paper Series, Berkeley Program on Housing and Urban Policy qt4v61c0ws, Berkeley Program on Housing and Urban Policy.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:fip:fedfer:y:1999:p:3-22:n:1. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Diane Rosenberger).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.