The weighted repeat sales price index methodology recently reported in Case and Shiller [5][6] is applied to a dataset of over eight million loans bought by the Federal Home Loan Mortgage Corporation over the last twenty years. Regional price indices are reported and compared to indices from...

Real metropolitan house prices have been quite volatile during the 1977-91 period, with half of our 30 areas having annual increases of above 15 percent in a single year and a third having decreases greater than 7.5 percent. Drawing on Capozza and Helsley's models of real land prices, we express...

A commonsense and empirically supported approach to explaining metropolitan real house price changes is for the theory to describe an equilibrium price level to which the market is constantly adjusting. The determinants of real house price appreciation, then, can be divided into two groups, one...

A commonsense and empirically supported approach to explaining metropolitan real house price changes is for the theory to describe an equilibrium price level to which the market is constantly adjusting. The determinants of real house price appreciation, then, can be divided into two groups, one...

Despite national economic and real estate market trends that are not unique in U.S. history, the housing market woes of the United States appear to be developing into an historic, adverse episode. Indeed other countries have experienced the same fundamental forces and find themselves with...

A commonsense and empirically supported approach to explaining metropolitan real house price changes is for the theory to describe an equilibrium price level to which the market is constantly adjusting. The determinants of real house price appreciation, then, can be divided into two groups: one...