model that shows how the effect of an immigrant inflow in a district affects local housing prices through changes in how … tested using a novel dataset on housing prices and population variables at the district level for a sample of 20 large … immigrants across districts to predict current settlements. We find that immigration raises average housing prices at the city …

We show that the hedging benefit of owning a home reduces the variability of housing consumption after a move. When a … current home owner's house price covaries positively with housing costs in a future city, changes in the future cost of … housing are offset by commensurate changes in wealth before the move. Using Census micro-data, we find that the cross …

Are households more likely to be homeowners when “housing risk” is higher? We show that home-ownership rates and loan … inference is confounded by house price levels, which are systematically correlated with housing risk in an intuitive way: in …

We use detailed data on housing prices in Italy available for a large number of years and with a fine geographical … breakdown to compute capital gains and losses on the most widespread asset among consumers, housing, and inquire whether changes … in housing values affect consumption. We find that consumer expenditures do react to capital gains, with a marginal …