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The Rise of the Sunbelt

Author

Listed:
  • Edward L. Glaeser

    (Kennedy School of Government, Harvard University and NBER, Taubman-344, 79 JFK Street, Cambridge, MA 02138-5801, USA)

  • Kristina Tobio

    () (Kennedy School of Government, Harvard University, Taubman-348, 79 JFK Street, Cambridge, MA 02138-5801, USA)

Abstract

In the last 50 years, population and incomes have increased steadily throughout much of the Sunbelt. This paper assesses the relative contributions of rising productivity, rising demand for Southern amenities, and increases in housing supply to the growth of warm areas, using data on income, housing price, and population growth. Before 1980, economic productivity increased significantly in warmer areas and drove the population growth in those places. Since 1980, productivity growth has been more modest, but housing supply growth has been enormous. We infer that new construction in warm regions represents a growth in supply, rather than demand, from the fact that prices are generally falling relative to the rest of the country. The relatively slow pace of housing price growth in the Sunbelt, relative to the rest of the country and relative to income growth, also implies that there has been no increase in the willingness to pay for sun-related amenities. As such, it seems that the growth of the Sunbelt has little to do with the sun.

Suggested Citation

  • Edward L. Glaeser & Kristina Tobio, 2008. "The Rise of the Sunbelt," Southern Economic Journal, Southern Economic Association, vol. 74(3), pages 610-643, January.
  • Handle: RePEc:sej:ancoec:v:74:3:y:2008:p:610-643
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    More about this item

    JEL classification:

    • R - Urban, Rural, Regional, Real Estate, and Transportation Economics
    • R1 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics

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