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Do House Prices Sink or Ride the Wave of Immigration?

Author

Listed:
  • Larkin, Matthew P.

    () (Deakin University)

  • Askarov, Zohid

    () (Deakin University)

  • Doucouliagos, Chris

    () (Deakin University)

  • Dubelaar, Chris

    () (Deakin University)

  • Klona, Maria

    () (Deakin University)

  • Newton, Joshua

    () (Deakin University)

  • Stanley, T. D.

    () (Deakin University)

  • Vocino, Andrea

    () (Deakin University)

Abstract

The sharp rise in international migration is a pressing social and economic issue, as seen in the recent global trend towards nationalism. One major concern is the impact of immigration on housing. We assemble a comprehensive database of 474 estimates of immigration's impact on house prices in 14 destination countries and find that immigration increases house prices, on average. However, attitudes to immigrants moderate this effect. In countries less welcoming to immigrants, house price increases are more limited.

Suggested Citation

  • Larkin, Matthew P. & Askarov, Zohid & Doucouliagos, Chris & Dubelaar, Chris & Klona, Maria & Newton, Joshua & Stanley, T. D. & Vocino, Andrea, 2018. "Do House Prices Sink or Ride the Wave of Immigration?," IZA Discussion Papers 11497, Institute for the Study of Labor (IZA).
  • Handle: RePEc:iza:izadps:dp11497
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    References listed on IDEAS

    as
    1. Saiz, Albert, 2007. "Immigration and housing rents in American cities," Journal of Urban Economics, Elsevier, vol. 61(2), pages 345-371, March.
    2. Per-Anders Edin & Peter Fredriksson & Olof Åslund, 2003. "Ethnic Enclaves and the Economic Success of Immigrants—Evidence from a Natural Experiment," The Quarterly Journal of Economics, Oxford University Press, vol. 118(1), pages 329-357.
    3. Ran Abramitzky & Leah Boustan, 2017. "Immigration in American Economic History," Journal of Economic Literature, American Economic Association, vol. 55(4), pages 1311-1345, December.
    4. Albert Saiz & Susan Wachter, 2011. "Immigration and the Neighborhood," American Economic Journal: Economic Policy, American Economic Association, vol. 3(2), pages 169-188, May.
    5. Mussa, Abeba & Nwaogu, Uwaoma G. & Pozo, Susan, 2017. "Immigration and housing: A spatial econometric analysis," Journal of Housing Economics, Elsevier, vol. 35(C), pages 13-25.
    6. Accetturo, Antonio & Manaresi, Francesco & Mocetti, Sauro & Olivieri, Elisabetta, 2014. "Don't stand so close to me: The urban impact of immigration," Regional Science and Urban Economics, Elsevier, vol. 45(C), pages 45-56.
    7. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 75-111, March.
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    More about this item

    Keywords

    immigration; house prices; attitudes; meta-regression;

    JEL classification:

    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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