Search Results
Journal Article
The behavior of home buyers in boom and post-boom markets
Journal Article
Retrospective of the 1980s
Briefing
The changing housing market: a bang or a whimper?
The U.S. housing market has had an extraordinary 15-year run in terms of prices, sales of existing homes, and new construction, especially on the East and West Coasts. Beginning in the spring of 2006, however, the housing market began to turn distinctly downward. We know that 2005 was a good year and that 2006 has not been such a good year, and we see indications that 2007 could be tough. To help understand why the market has shifted from hot to, at a minimum, cool, this paper, which is the first in a series of NEPPC policy briefs on housing, recaps some of the factors that contributed to ...
Conference Paper
How the commercial real estate boom undid the banks
Working Paper
Housing price dynamics within a metropolitan area
This paper analyzes the pattern of house price appreciation in the Boston area from 1982 to 1994. The empirical results are consistent with the predictions of a standard urban model in which towns have a fixed set of amenities. The evidence suggests that changes in the cross-sectional pattern of house prices are related to differences in manufacturing employment, demographics, new construction, proximity to the downtown, and to aggregate school enrollments. These findings support the view that town amenities are not easily replicated or quickly adaptable to shifts in demand, even within a ...
Journal Article
Home price appreciation in low- and moderate-income markets
Do homes in low- and moderate- income areas of a city appreciate like homes in high income areas? Do owners of those lower-priced homes accumulate as much equity as owners of higher-priced homes? Karl Case and Maryna Marynchenko share their results, some of which are quite surprising.
Journal Article
A decade of boom and bust in the prices of single-family homes: Boston and Los Angeles, 1983 to 1993
The 1980s and 1990s have been turbulent times in the U.S. market for single-family homes. For most of the previous two decades, housing prices across states and metropolitan areas moved together and increased slowly in real terms while regional differences generally remained small. The 1980s and 1990s, in contrast, have seen increased price volatility and sharp differences in price behavior across regions with substantial housing price booms in some regions and major price declines in others. ; These boom-bust cycles had serious consequences for regional economies and national mortgage ...
Journal Article
Chasing good schools in Massachusetts
Journal Article
Geographic patterns of mortgage lending in Boston, 1982-1987