Journal Article

House price indexes: methodology and revisions

Abstract: Accurate measurements of house prices are important for a number of reasons. Housing is usually the most important investment a household ever makes, and home equity is typically the largest component of household wealth. In addition, housing is an important source of collateral for household borrowing, and, as we have seen, its value can be subject to considerable fluctuation. Also, research has shown that having a mortgage that is larger than the value of the underlying house is associated with an elevated risk of default.

Keywords: House price index;

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Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Research Rap Special Report

Publication Date: 2014

Issue: Jun

Order Number: 1