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We show that foreign real estate capital inflows have positive real effects and adverse distributional consequences. Using transaction-level data, we document (i) a "China shock" in the U.S. housing market characterized by surging foreign Chinese housing purchases after 2008; and (ii) "home bias" in...
Persistent link: https://www.econbiz.de/10013244290
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We study the effects of foreign real estate capital flows on local asset prices and employment using detailed housing transactions data. We document (i) a "China shock" in the U.S. real estate market after 2007 driven by the Chinese government's house purchase restrictions and (ii) "home bias"...
Persistent link: https://www.econbiz.de/10014048823
Persistent link: https://www.econbiz.de/10014528726