We perform probit-based Oaxaca-Fairlie decompositions of the change in ownership rates for four ethnic groups and three age groups over five censuses, and then construct second-order decompositions of the white/non-white differentials. There is substantial heterogeneity in how Hispanic, Asian...

The inelastic supply of land suggests that taxation of land might be neutral. Feldstein (1977) suggests otherwise, in that taxation reduces risk, and this may raise demand among risk-averse lenders. We simulate the effect of this demand increase and find that the impact in the aggregate is...

"Tax law revisions of 2004 altered the "roster depreciation allowance" enjoyed by pro sports team owners. Supporters claimed this would practically eliminate costly legal oversight by the IRS and, ultimately, increase owner tax bills. Government officials and leagues remained silent on team...

We examine the relation between housing prices in an MSA and its urban economic base. We create and employ new forward-looking employment growth indices that measure the urban economic strength of an MSA and find that it accounts for a significant and sizeable portion of the house price...

Historical designation has become an important tool in efforts to revitalise central-city neighbourhoods. Yet designation has also come under scrutiny because of its presumed association with gentrification and displacement of lower-income residents. Using Fort Worth, Texas, as a case study, the...

We use the results of a survey taken in ten large Chinese cities to investigate several aspects of Chinese real estate investment. The survey provides significant (though not comprehensive) information on the personal and family characteristics and real estate holdings of the survey respondents....

We use the 1999–2009 Panel Survey of Income Dynamics to estimate household move probabilities as a function of, among other things, current housing equity. The lock-in effect supposes that mobility decreases with the mortgage loan-to-value ratio, particularly as equity becomes negative. We...

Estimating price indexes for different quantiles shows how prices vary for homes that are in different stages of the filtering process. The paper describes a filtering model and its implication for the dynamic interaction of housing prices at these various stages. A time-series analysis of...

Hedonic property value models have been frequently used to value environmental amenities because markets for these goods usually do not exist. Typically, researchers cite Rosen’s (1974) seminal work, which allows one to interpret functions of the hedonic regression coefficients as the marginal...