The inclusion of neighbourhood quality variables has been recognised as reducing the bias in house price indices and increasing the explanatory power of regression based hedonic indices. The ability to identify the type of purchaser is used in this paper to test the importance of neighbourhood...

A model that allows for inter vivos intergenerational transfers in a booming housing market is developed. The model is used to explain how transfers effect the first-time homebuyer’s consumption and housing decisions by alleviating borrowing constraints. The general implications of the model...