Housing and Economic Adjustment
Housing is the most important component of wealth for many New Zealanders. Its location is fixed and its value is influenced by economic and other factors specific to that location. Hence when people live in owner-occupied homes their wealth is strongly associated with their local economic conditions. Housing is also a major factor in influencing migration decisions and, hence, regional mobility. To shed light on the behaviour of the New Zealand housing market, we examine the dynamic and long run responses of house values across spatial communities and across time to economic variables that impact on the local economy. We use a specially constructed QVNZ-sourced database for house prices and house sales, and a range of explanatory variables constructed consistently across TLA and Regional Council levels.
|Date of creation:||Jul 2003|
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"Loss Aversion and Seller Behavior: Evidence from the Housing Market,"
NBER Working Papers
8143, National Bureau of Economic Research, Inc.
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- David Genesove & Christopher Mayer, . "Loss Aversion and Seller Behavior: Evidence from the Housing Market," Zell/Lurie Center Working Papers 323, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania.
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- Ralph Lattimore, 2003. "Long Run Trends in New Zealand Industry Assistance," Working Papers 03_11, Motu Economic and Public Policy Research.
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