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Did the Housing Boom Increase Household Spending

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  • 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.

Suggested Citation

  • Anthony Webb & Shenyi Jiang & Wei Sun, 2010. "Did the Housing Boom Increase Household Spending," Issues in Brief ib2010-10, Center for Retirement Research, revised Jul 2010.
  • Handle: RePEc:crr:issbrf:ib2010-10
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    File URL: http://crr.bc.edu/briefs/did-the-housing-boom-increase-household-spending/
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    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 19:36:00

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    Cited by:

    1. Dushi, Irena & Friedberg, Leora & Webb, Tony, 2010. "The impact of aggregate mortality risk on defined benefit pension plans," Journal of Pension Economics and Finance, Cambridge University Press, vol. 9(04), pages 481-503, October.
    2. Friedberg Leora & Webb Anthony, 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 1-33, July.

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