Heterogeneity in Neighborhood-Level Price Growth in the United States, 1993-2009
Examination of detailed geographical information on U.S. housing transactions from 1993 to 2009 find much heterogeneity at the neighborhood level in when the recent boom began, how big the initial jumps in price growth were, how long the booms lasted, and what types of neighborhoods boomed first. There is less neighborhood-level heterogeneity in when the bust began and in aggregate price appreciation during the boom. This heterogeneity suggests that there was no one dominant cause of the boom. We also comment on how very local data may help understand the role of contagion, among other housing market phenomena.
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Volume (Year): 102 (2012)
Issue (Month): 3 (May)
Pages: 134-40
| Handle: | RePEc:aea:aecrev:v:102:y:2012:i:3:p:134-40 |
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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.:
- David Card & Alexandre Mas & Jesse Rothstein, 2007.
"Tipping and the Dynamics of Segregation,"
NBER Working Papers
13052, National Bureau of Economic Research, Inc.
- David Card & Alexandre Mas & Jesse Rothstein, 2008. "Tipping and the Dynamics of Segregation," The Quarterly Journal of Economics, MIT Press, vol. 123(1), pages 177-218, 02.
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