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The Housing Market(s) of San Diego / Tim Landvoigt, Monika Piazzesi, Martin Schneider.
- Format:
- Book
- Author/Creator:
- Landvoigt, Tim.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w17723.
- NBER working paper series no. w17723
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Housing Market
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2012.
- Summary:
- This paper uses an assignment model to understand the cross section of house prices within a metro area. Movers' demand for housing is derived from a lifecycle problem with credit market frictions. Equilibrium house prices adjust to assign houses that differ by quality to movers who differ by age, income and wealth. To quantify the model, we measure distributions of house prices, house qualities and mover characteristics from micro data on San Diego County during the 2000s boom. The main result is that cheaper credit for poor households was a major driver of prices, especially at the low end of the market.
- Notes:
- Print version record
- January 2012.
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