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Economic Fundamentals in Local Housing Markets: Evidence from U.S. Metropolitan Regions

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Cited by:

  1. Hao-Chen Huang & Chin-Fu Hung & Chi-Lu Peng & Ting-Hsiu Liao, 2022. "Business Income Tax from Profit-Seeking Enterprises and Spatial Autocorrelation: Do Local Economic Characteristics Matter?," Land, MDPI, vol. 11(9), pages 1-18, September.
  2. Shen, Chung-Hua & Lee, Yen Hsien & Wu, Meng-Wen & Guo, Na, 2016. "Does housing boom lead to credit boom or is it the other way around? The case of China," International Review of Economics & Finance, Elsevier, vol. 42(C), pages 349-367.
  3. Morgenroth, Edgar, 2014. "Modelling the Impact of Fundamentals on County Housing Markets in Ireland," MPRA Paper 57665, University Library of Munich, Germany.
  4. Niu, Yi & Ding, Chengri, 2015. "Unemployment matters: Improved measures of labor market distress in mortgage default analysis," Regional Science and Urban Economics, Elsevier, vol. 52(C), pages 27-38.
  5. Osei, Michael J. & Winters, John V., 2018. "Labor Demand Shocks and Housing Prices across the US: Does One Size Fit All?," IZA Discussion Papers 11636, Institute of Labor Economics (IZA).
  6. Elias Oikarinen & Janne Engblom, 2012. "Regional differences in housing price dynamics: panel data evidence," ERES eres2012_059, European Real Estate Society (ERES).
  7. Camille Dumeignil, 2022. "The Impact of Cross-border Labor Mobility on Real Estate Price Trends: A Natural Experiment," International Regional Science Review, , vol. 45(1), pages 108-132, January.
  8. Ritashree Chakrabarti & Junfu Zhang, 2015. "Unaffordable housing and local employment growth: Evidence from California municipalities," Urban Studies, Urban Studies Journal Limited, vol. 52(6), pages 1134-1151, May.
  9. Michael J. Osei & John V. Winters, 2019. "Labor Demand Shocks and Housing Prices Across the United States: Does One Size Fit All?," Economic Development Quarterly, , vol. 33(3), pages 212-219, August.
  10. Christian A. L. Hilber, 2019. "Immobilienpreise und Immobilienzyklen und die Rolle von Angebotsbeschränkungen [The impact of local supply constraints on house prices and price dynamics]," Zeitschrift für Immobilienökonomie (German Journal of Real Estate Research), Springer;Gesellschaft für Immobilienwirtschaftliche Forschung e. V., vol. 5(1), pages 37-65, November.
  11. Kokot Sebastian, 2018. "An Attempt to Identify Social – Economic Factors in the Levels Of Property Prices in Chosen Cities in Poland," Real Estate Management and Valuation, Sciendo, vol. 26(3), pages 93-104, September.
  12. Yi Wu & Nicole Lux, 2018. "U.K. House Prices: Bubbles or Market Efficiency? Evidence from Regional Analysis," JRFM, MDPI, vol. 11(3), pages 1-16, September.
  13. Ritashree Chakrabarti & Junfu Zhang, 2010. "Unaffordable housing and local employment growth," New England Public Policy Center Working Paper 10-3, Federal Reserve Bank of Boston.
  14. Gorjian, Mahshid, 2025. "Integrating Machine Learning and Hedonic Regression for Housing Price Prediction: A Systematic International Review of Model Performance and Interpretability," MPRA Paper 125676, University Library of Munich, Germany.
  15. Hilber, Christian A. L., 2011. "The economics implications of house price capitalization a survey of an emerging literature," LSE Research Online Documents on Economics 58596, London School of Economics and Political Science, LSE Library.
  16. An-Ming Wang, 2016. "Agglomeration and simplified housing boom," Urban Studies, Urban Studies Journal Limited, vol. 53(5), pages 936-956, April.
  17. Andrew James Abbott & Glauco de Vita, 2011. "Testing for long-run convergence across regional house prices in the UK: a pairwise approach," Post-Print hal-00762892, HAL.
  18. Yiyang Gu, 2018. "What are the most important factors that influence the changes in London Real Estate Prices? How to quantify them?," Papers 1802.08238, arXiv.org.
  19. Holmes, Mark J. & Otero, Jesús & Panagiotidis, Theodore, 2011. "Investigating regional house price convergence in the United States: Evidence from a pair-wise approach," Economic Modelling, Elsevier, vol. 28(6), pages 2369-2376.
  20. Engerstam, Sviatlana, 2020. "Macroeconomic determinants of apartment prices in Swedish and German cities," Working Paper Series 20/2, Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance.
  21. David C. Ling & Joseph T.L. Ooi & Thao T.T. Le, 2015. "Explaining House Price Dynamics: Isolating the Role of Nonfundamentals," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 47(S1), pages 87-125, March.
  22. Oliver W. Lerbs, 2014. "House prices, housing development costs, and the supply of new single-family housing in German counties and cities," Journal of Property Research, Taylor & Francis Journals, vol. 31(3), pages 183-210, September.
  23. Tang, Edward Chi Ho & Leung, Charles Ka Yui, 2024. "Icing on the cake: Can the Top-Floor Units serve as a status good and an investment simultaneously?," MPRA Paper 121937, University Library of Munich, Germany.
  24. Saks, Raven E., 2008. "Job creation and housing construction: Constraints on metropolitan area employment growth," Journal of Urban Economics, Elsevier, vol. 64(1), pages 178-195, July.
  25. Brian Peterson, 2009. "The Beveridge Curve in the Housing Market: Supply and Disequilibrium," CAEPR Working Papers 2009-009, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
  26. Chang, Chuang-Chang & Chao, Ching-Hsiang & Yeh, Jin-Huei, 2016. "The role of buy-side anchoring bias: Evidence from the real estate market," Pacific-Basin Finance Journal, Elsevier, vol. 38(C), pages 34-58.
  27. Juan Carmona & Markus Lampe & Joan Rosés, 2017. "Housing affordability during the urban transition in Spain," Economic History Review, Economic History Society, vol. 70(2), pages 632-658, May.
  28. Elisabetta Manzoli & Sauro Mocetti, 2019. "The House Price Gradient: Evidence from Italian Cities," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 5(2), pages 281-305, July.
  29. MeiChi Huang, 2019. "Risk diversification gains from metropolitan housing assets," Review of Financial Economics, John Wiley & Sons, vol. 37(4), pages 453-481, October.
  30. Qingyu, Zhu, 2010. "Regional unemployment and house price determination," MPRA Paper 41785, University Library of Munich, Germany.
  31. Heiko Kirchhain & Jan Mutl & Joachim Zietz, 2020. "The Impact of Exogenous Shocks on House Prices: the Case of the Volkswagen Emissions Scandal," The Journal of Real Estate Finance and Economics, Springer, vol. 60(4), pages 587-610, May.
  32. Olympia Bover, 2010. "Housing purchases and the dynamics of housing wealth," Working Papers 1036, Banco de España.
  33. Brady, Ryan R., 2014. "The spatial diffusion of regional housing prices across U.S. states," Regional Science and Urban Economics, Elsevier, vol. 46(C), pages 150-166.
  34. Bischoff, Oliver, 2012. "Explaining regional variation in equilibrium real estate prices and income," Journal of Housing Economics, Elsevier, vol. 21(1), pages 1-15.
  35. Robert Forster & Xiaojin Sun, 2024. "Heterogeneous Effects of Mortgage Rates on Housing Returns: Evidence from an Interacted Panel VAR," The Journal of Real Estate Finance and Economics, Springer, vol. 69(3), pages 477-504, October.
  36. Ball, Michael & Meen, Geoffrey & Nygaard, Christian, 2010. "Housing supply price elasticities revisited: Evidence from international, national, local and company data," Journal of Housing Economics, Elsevier, vol. 19(4), pages 255-268, December.
  37. Göbel, Jürgen, 2009. "Local policy, income, and housing prices," MPRA Paper 14053, University Library of Munich, Germany.
  38. Oliver Lerbs, "undated". "House Prices, Housing Development Costs, and the Supply of New Single-Family Housing in German Counties and Cities," Working Papers 201283, Institute of Spatial and Housing Economics, Munster Universitary.
  39. Coulson, N. Edward & McCoy, Shawn J. & McDonough, Ian K., 2020. "Economic diversification and the resiliency hypothesis: Evidence from the impact of natural disasters on regional housing values," Regional Science and Urban Economics, Elsevier, vol. 85(C).
  40. Soosung Hwang & Youngha Cho & Jinho Shin, 2020. "The impact of UK household overconfidence in public information on house prices," Journal of Property Research, Taylor & Francis Journals, vol. 37(4), pages 360-389, October.
  41. repec:diw:diwwpp:dp1417 is not listed on IDEAS
  42. MeiChi Huang, 2020. "A threshold unobserved components model of housing bubbles: timings and effectiveness of monetary policies," Empirical Economics, Springer, vol. 59(2), pages 887-908, August.
  43. Kajuth, Florian & Knetsch, Thomas A. & Pinkwart, Nicolas, 2013. "Assessing house prices in Germany: Evidence from an estimated stock-flow model using regional data," Discussion Papers 46/2013, Deutsche Bundesbank.
  44. Quigley, John M. & Raphael, Steven & Rosenthal, Larry A., 2008. "Measuring Land-Use Regulations and Their Effects in the Housing Market," Berkeley Program on Housing and Urban Policy, Working Paper Series qt07t5d0q4, Berkeley Program on Housing and Urban Policy.
  45. Efthymios Pavlidis & Alisa Yusupova & Ivan Paya & David Peel & Enrique Martínez-García & Adrienne Mack & Valerie Grossman, 2016. "Episodes of Exuberance in Housing Markets: In Search of the Smoking Gun," The Journal of Real Estate Finance and Economics, Springer, vol. 53(4), pages 419-449, November.
  46. Leung, Charles Ka Yui & Teo, Wing Leong, 2011. "Should the optimal portfolio be region-specific? A multi-region model with monetary policy and asset price co-movements," Regional Science and Urban Economics, Elsevier, vol. 41(3), pages 293-304, May.
  47. Doszyń Mariusz & Kokot Sebastian, 2024. "Econometric Modelling of Average Housing Prices in Local Markets and the Price Anchoring Effect," Real Estate Management and Valuation, Sciendo, vol. 32(3), pages 116-126.
  48. John Mc Breen & Florence Goffette-Nagot & Pablo Jensen, 2011. "Information and Search on the Housing Market: An Agent-based Model," ERSA conference papers ersa11p1395, European Regional Science Association.
  49. Beenstock, Michael & Felsenstein, Daniel, 2015. "Estimating spatial spillover in housing construction with nonstationary panel data," Journal of Housing Economics, Elsevier, vol. 28(C), pages 42-58.
  50. Meir Russ & Gaurav Bansal & Adam Parrillo, 2017. "The “Knowledge City” and the “Experience City”: the Main, Mediating, and Moderating Effects of Education on Income and Economic Inequality," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 8(3), pages 804-829, September.
  51. Mabutho Sibanda & Dr. Richard Mhlanga, 2013. "The interaction between property returns and the macroeconomy: Evidence from South Africa," International Journal of Business and Social Research, LAR Center Press, vol. 3(4), pages 146-152, April.
  52. Joseph T. L. Ooi & Thao T. T. Le, 2012. "New Supply and Price Dynamics in the Singapore Housing Market," Urban Studies, Urban Studies Journal Limited, vol. 49(7), pages 1435-1451, May.
  53. Xiang Gao & Wen Kong & Zhijun Hu, 2022. "The Effects of National Fundamental Factors on Regional House Prices: A Factor-Augmented VAR Analysis," JRFM, MDPI, vol. 15(7), pages 1-19, July.
  54. Kholodilin, Konstantin A. & Michelsen, Claus & Ulbricht, Dirk, 2018. "Speculative price bubbles in urban housing markets," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 55(4), pages 1957-1983.
  55. Antonakakis, Nikolaos & Floros, Christos, 2016. "Dynamic interdependencies among the housing market, stock market, policy uncertainty and the macroeconomy in the United Kingdom," International Review of Financial Analysis, Elsevier, vol. 44(C), pages 111-122.
  56. Sun, Xiaojin & Tsang, Kwok Ping, 2019. "Large price movements in housing markets," Journal of Economic Behavior & Organization, Elsevier, vol. 163(C), pages 1-23.
  57. Timothy Jones & Dean Gatzlaff & G. Stacy Sirmans, 2016. "Housing Market Dynamics: Disequilibrium, Mortgage Default, and Reverse Mortgages," The Journal of Real Estate Finance and Economics, Springer, vol. 53(3), pages 269-281, October.
  58. Arno Vlist & Daniel Czamanski & Henk Folmer, 2011. "Immigration and urban housing market dynamics: the case of Haifa," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 47(3), pages 585-598, December.
  59. Wisniewski, Radoslaw & Brzezicka, Justyna, 2020. "Translocality on the real estate market: A new extended approach," Land Use Policy, Elsevier, vol. 97(C).
  60. Sheng-Hau Lin & Jia-Hsun Li & Jing-Chzi Hsieh & Xianjin Huang & Jia-Tsong Chen, 2018. "Impact of Property Tax on Housing-Market Disequilibrium in Different Regions: Evidence from Taiwan for the period 1982–2016," Sustainability, MDPI, vol. 10(11), pages 1-18, November.
  61. Oikarinen, Elias, 2009. "Household borrowing and metropolitan housing price dynamics - Empirical evidence from Helsinki," Journal of Housing Economics, Elsevier, vol. 18(2), pages 126-139, June.
  62. Yanchuan Mou & Qingsong He & Bo Zhou, 2017. "Detecting the Spatially Non-Stationary Relationships between Housing Price and Its Determinants in China: Guide for Housing Market Sustainability," Sustainability, MDPI, vol. 9(10), pages 1-17, October.
  63. Ryan R. Brady, 2011. "Measuring the diffusion of housing prices across space and over time," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 26(2), pages 213-231, March.
  64. repec:ers:journl:v:xxiv:y:2021:i:2b:p:1025-1040 is not listed on IDEAS
  65. Rumbach, Andrew & Sullivan, Esther & McMullen, Shelley & Makarewicz, Carrie, 2022. "You don’t need zoning to be exclusionary: Manufactured home parks, land-use regulations and housing segregation in the Houston metropolitan area," Land Use Policy, Elsevier, vol. 123(C).
  66. Eichholtz, Piet & Lindenthal, Thies, 2014. "Demographics, human capital, and the demand for housing," Journal of Housing Economics, Elsevier, vol. 26(C), pages 19-32.
  67. Mehmet Balcilar & Rangan Gupta & Ricardo M. Sousa & Mark E. Wohar, 2021. "What Can Fifty-Two Collateralizable Wealth Measures Tell Us About Future Housing Market Returns? Evidence from U.S. State-Level Data," The Journal of Real Estate Finance and Economics, Springer, vol. 62(1), pages 81-107, January.
  68. Agnello, Luca & Schuknecht, Ludger, 2011. "Booms and busts in housing markets: Determinants and implications," Journal of Housing Economics, Elsevier, vol. 20(3), pages 171-190, September.
  69. Agnew, Kerri & Lyons, Ronan C., 2018. "The impact of employment on housing prices: Detailed evidence from FDI in Ireland," Regional Science and Urban Economics, Elsevier, vol. 70(C), pages 174-189.
  70. Sebastian Kokot, 2021. "Primary Housing Market in the Context of Wages and Creditworthiness in Selected Cities in Poland in the Years 2006-2019," European Research Studies Journal, European Research Studies Journal, vol. 0(2 - Part ), pages 1025-1040.
  71. Elias Oikarinen & Janne Engblom, 2016. "Differences in housing price dynamics across cities: A comparison of different panel model specifications," Urban Studies, Urban Studies Journal Limited, vol. 53(11), pages 2312-2329, August.
  72. Samuel M. Otterstrom, 2015. "Income Migration and Home Price Trajectories in the United States," International Real Estate Review, Global Social Science Institute, vol. 18(2), pages 277-302.
  73. Konstantin A. Kholodilin & Claus Michelsen & Dirk Ulbricht, 2015. "Is There a Bubble in the German Housing Market?," DIW Roundup: Politik im Fokus 53, DIW Berlin, German Institute for Economic Research.
  74. Biktimirov, Ernest N. & Sokolyk, Tatyana & Ayanso, Anteneh, 2024. "Unpacking the relation between media sentiment and house prices: A topic modeling approach," Journal of Housing Economics, Elsevier, vol. 66(C).
  75. Lerbs, Oliver W., 2012. "House prices, housing development costs, and the supply of new single-family housing in German counties and cities," CAWM Discussion Papers 57, University of Münster, Münster Center for Economic Policy (MEP).
  76. Michael LaCour-Little & Wei Yu & Libo Sun, 2014. "The Role of Home Equity Lending in the Recent Mortgage Crisis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(1), pages 153-189, March.
  77. Nicholas Apergis & Beatrice D. Simo-Kengne & Rangan Gupta & Tsangyao Chang, 2013. "The Dynamic Relationship between House Prices and Output: Evidence from US Metropolitan Statistical Areas," Working Papers 201349, University of Pretoria, Department of Economics.
  78. Jorge Chica-Olmo & Rafael Cano-Guervos & Mario Chica-Rivas, 2019. "Estimation of Housing Price Variations Using Spatio-Temporal Data," Sustainability, MDPI, vol. 11(6), pages 1-21, March.
  79. Balcilar, Mehmet & Gupta, Rangan & Sousa, Ricardo M. & Wohar, Mark E., 2021. "Linking U.S. State-level housing market returns, and the consumption-(Dis)Aggregate wealth ratio," International Review of Economics & Finance, Elsevier, vol. 71(C), pages 779-810.
  80. Jarl G. Kallberg & Crocker H. Liu & Paolo Pasquariello, 2014. "On the Price Comovement of U.S. Residential Real Estate Markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(1), pages 71-108, March.
  81. Croce, Roberto M. & Haurin, Donald R., 2009. "Predicting turning points in the housing market," Journal of Housing Economics, Elsevier, vol. 18(4), pages 281-293, December.
  82. Morgenroth, Edgar, 2018. "Prospects for Irish Regions and Counties: Scenarios and Implications," Research Series, Economic and Social Research Institute (ESRI), number RS70, July.
  83. Hussain Mohammed A. Al Obaid, 2020. "Factors Determining Housing Demand in Saudi Arabia," International Journal of Economics and Financial Issues, Econjournals, vol. 10(5), pages 150-157.
  84. Anthony Owusu-Ansah, 2012. "Modelling the supply of new residential construction for local housing markets and estimation of housing supply price elasticities: The case of Aberdeen, UK," ERES eres2012_097, European Real Estate Society (ERES).
  85. Paloma Taltavull de La Paz, 2021. "Predicting housing prices. A long term housing price path for Spanish regions," LARES lares-2021-4dra, Latin American Real Estate Society (LARES).
  86. Laurie Bates & Carmelo Giaccotto & Rexford Santerre, 2015. "Is the Real Estate Sector More Responsive to Economy-Wide or Housing Market Conditions? An Exploratory Analysis," The Journal of Real Estate Finance and Economics, Springer, vol. 51(4), pages 541-554, November.
  87. MeiChi Huang & LinYing Yeh, 2015. "Should the Fed take extra action for the recent housing bubble? Evidence from asymmetric transitory shocks," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 39(4), pages 762-781, October.
  88. Shuping Shi & Arafat Rahman & Ben Zhe Wang, 2020. "Australian Housing Market Booms: Fundamentals or Speculation?☆," The Economic Record, The Economic Society of Australia, vol. 96(315), pages 381-401, December.
  89. Xiaoping Zhou & Zhenyang Qin & Yingjie Zhang & Linyi Zhao & Yan Song, 2019. "Quantitative Estimation and Spatiotemporal Characteristic Analysis of Price Deviation in China's Housing Market," Sustainability, MDPI, vol. 11(24), pages 1-28, December.
  90. Konstantin Kholodilin, 2015. "Speculative Bubbles in Urban Housing Markets in Germany," ERSA conference papers ersa15p67, European Regional Science Association.
  91. Salaheddin Manochehri & Ramin Amani & Jamal Mamkhezri, 2025. "Spatial analysis of speculation in the US housing market," Future Business Journal, Springer, vol. 11(1), pages 1-19, December.
  92. Kingsley E. Dogah & Hao Lan & Sheng Zhao & Boqiang Lin, 2024. "Does Declining Air Pollution Levels Always Signal Higher Premium for Housing Market?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 87(11), pages 2967-2992, November.
  93. Kim, Young Se & Rous, Jeffrey J., 2012. "House price convergence: Evidence from US state and metropolitan area panels," Journal of Housing Economics, Elsevier, vol. 21(2), pages 169-186.
  94. Yang, Zan & Wang, Songtao & Campbell, Robert, 2010. "Monetary policy and regional price boom in Sweden," Journal of Policy Modeling, Elsevier, vol. 32(6), pages 865-879, November.
  95. Daunfeldt, Sven-Olov & Mihaescu, Oana & Öner, Özge & Rudholm, Niklas, 2019. "Retail and place attractiveness: The effects of big-box entry on property values," HFI Working Papers 1, Institute of Retail Economics (Handelns Forskningsinstitut).
  96. Zabel, Jeffrey E., 2012. "Migration, housing market, and labor market responses to employment shocks," Journal of Urban Economics, Elsevier, vol. 72(2), pages 267-284.
  97. Coulson, N. Edward & Liu, Crocker H. & Villupuram, Sriram V., 2013. "Urban economic base as a catalyst for movements in real estate prices," Regional Science and Urban Economics, Elsevier, vol. 43(6), pages 1023-1040.
  98. Choi, Chi-Young & Hansz, J. Andrew, 2021. "From banking integration to housing market integration - Evidence from the comovement of U.S. Metropolitan House Prices," Journal of Financial Stability, Elsevier, vol. 54(C).
  99. Nan-Kuang Chen & Charles Leung, 2008. "Asset Price Spillover, Collateral and Crises: with an Application to Property Market Policy," The Journal of Real Estate Finance and Economics, Springer, vol. 37(4), pages 351-385, November.
  100. Xu Zhang & Xiaoxing Liu & Jianqin Hang & Dengbao Yao & Guangping Shi, 2016. "Do Urban Rail Transit Facilities Affect Housing Prices? Evidence from China," Sustainability, MDPI, vol. 8(4), pages 1-14, April.
  101. Heeho Kim & SaeWoon Park & Sun Hye Lee, 2012. "House Price and Bank Lending in a Premium Submarket in Korea," International Real Estate Review, Global Social Science Institute, vol. 15(1), pages 1-42.
  102. Leung, Charles Ka Yui & Chow, Kenneth & Yiu, Matthew & Tam, Dickson, 2010. "House Market in Chinese Cities: Dynamic Modeling, In-Sampling Fitting and Out-of-Sample Forecasting," MPRA Paper 27367, University Library of Munich, Germany.
  103. repec:ehl:wpaper:60556 is not listed on IDEAS
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