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Precipitation and house price expectations – evidence from survey data

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  • Debasis Rooj
  • Abhishek Sachdeva
  • Reshmi Sengupta

Abstract

This paper analyses the impact of precipitation on house price expectations. We use unit-level observations from the Reserve Bank of India's Inflation Expectation Survey of Households from September 2013 to May 2021. The precipitation readings are based on remotely sensed estimates collected through the Global Precipitation Measurement mission. The results indicate that higher precipitation leads to a decline in house price expectations. Disaggregated analysis reveals that younger and occupational groups with greater outdoor exposure and higher income uncertainty are more likely to expect lower house prices than other occupational groups. These results suggest that India's housing market is affected by weather shocks.

Suggested Citation

  • Debasis Rooj & Abhishek Sachdeva & Reshmi Sengupta, 2025. "Precipitation and house price expectations – evidence from survey data," Spatial Economic Analysis, Taylor & Francis Journals, vol. 20(4), pages 751-767, October.
    • Handle: RePEc:taf:specan:v:20:y:2025:i:4:p:751-767
    DOI: 10.1080/17421772.2025.2525366
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