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Did the Housing Boom Increase Household Spending

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Author Info

  • Anthony Webb
  • Shenyi Jiang
  • Wei Sun

Abstract

Between 1995 and 2007, inflation-adjusted house prices more than doubled in some areas of the U.S. During this unprecedented boom, households spent more and reduced their saving rate. A key question is how much of the increased spending was related to rising house prices, as opposed to other factors? And, if households spent more when prices soared, are they likely to cut back during the housing bust? The answers can help in assessing retirement saving trends.

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File URL: http://crr.bc.edu/briefs/did-the-housing-boom-increase-household-spending/
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Bibliographic Info

Paper provided by Center for Retirement Research in its series Issues in Brief with number ib2010-10.

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Length: 7 pages
Date of creation: Jul 2010
Date of revision: Jul 2010
Publication status: published on the Center for Retirement Research at Boston College website
Handle: RePEc:crr:issbrf:ib2010-10

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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. What if a cohort lives too long?
    by Economic Logician in Economic Logic on 2010-07-08 14:36:00
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Cited by:
  1. Irena Dushi & Leora Friedberg & Anthony Webb, 2006. "The Impact of Aggregate Mortality Risk on Defined Benefit Pension Plans," Working Papers, Center for Retirement Research at Boston College wp2006-21, Center for Retirement Research, revised Nov 2006.
  2. Leora Friedberg & Anthony Webb, 2007. "Life Is Cheap: Using Mortality Bonds to Hedge Aggregate Mortality Risk," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 7(1), pages 31.

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