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Your house just doubled in value? Don't uncork the champagne just yet!

Author

Listed:
  • Wenli Li
  • Rui Yao

Abstract

Wenli Li and Rui Yao present their recent research, which tries to quantify the effects of house-price changes on both consumption and the well-being of American households. Their study looks at the economy as a whole, as well as different demographic groups.

Suggested Citation

  • Wenli Li & Rui Yao, 2006. "Your house just doubled in value? Don't uncork the champagne just yet!," Business Review, Federal Reserve Bank of Philadelphia, issue Q1, pages 25-34.
    • Handle: RePEc:fip:fedpbr:y:2006:i:q1:p:25-34
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/business-review/2006/q1/Q1_06_Housevalue.pdf
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    References listed on IDEAS

    as
    1. Joao F. Cocco, 2005. "Portfolio Choice in the Presence of Housing," Review of Financial Studies, Society for Financial Studies, vol. 18(2), pages 535-567.
    2. Joshua H. Gallin, 2004. "The long-run relationship between house prices and rents," Finance and Economics Discussion Series 2004-50, Board of Governors of the Federal Reserve System (U.S.).
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Housing - Prices; Consumption (Economics);

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