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The effect of homeownership on the option value of regional migration
Oswald, Florian - In: Quantitative economics : QE ; journal of the … 10 (2019) 4, pp. 1453-1493
This paper estimates a lifecycle model of consumption, housing choice, and migration in the presence of aggregate and regional shocks, using the Survey of Income and Program Participation (SIPP). The model delivers structural estimates of moving costs by ownership status, age, and family size...
Persistent link: https://www.econbiz.de/10012202852
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"We'll always have Paris" : out-of-country buyers in the housing market
Cvijanovic, Dragana; Spaenjers, Christophe - 2018
Previous research has shown that non-local household investors make sub-optimal asset selection and market timing decisions. However, in real estate markets, heterogeneity in returns can exist even with identical ex ante investment (timing) choices, given that transaction prices are the outcome...
Persistent link: https://www.econbiz.de/10012219354
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Dissimilarity effects on house prices : what is the value of similar neighbours?
Bonakdar, Said Benjamin; Roos, Michael W. M. - 2021
Residential choice does not only depend on properties of the dwelling, neighborhood amenities and affordability, but is also affected by the population composition within a neighbourhood. All these attributes are capitalised in the house price. Empirically, it is not easy to disentangle the...
Persistent link: https://www.econbiz.de/10012433602
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Homeownership : low household mobility, volatile housing prices, high income dispersion
Ortalo-Magné, François; Rady, Sven - 2002
joint location and tenure mode decisions. To investigate the effect of homeownership on equilibrium prices and allocations … three results. First, homeownership enables more households to remain in the more desirable location at the expense of … newcomers. Second, homeownership adds to the volatility of the housing market. Third, homeownership may amplify the dispersion …
Persistent link: https://www.econbiz.de/10011514075
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Housing boom and household migration decision : new evidence from China
Meng, Lina; Xiao, Xiao; Zhou, Yinggang - In: The journal of real estate finance and economics 67 (2023) 3, pp. 453-479
Persistent link: https://www.econbiz.de/10014383375
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Spatial Variation of In-migration to Moscow : Testing the Effect of Housing Market
Kashnitsky, Ilya - 2016
The collapse of state socialism and the introduction of market relationships in Central and Eastern Europe resulted in profound changes of urban development. Evidence from Central and Eastern Europe indicates that the development of a strong housing market and growing material inequalities...
Persistent link: https://www.econbiz.de/10012980040
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A Spatiotemporal Equilibrium Model of Migration and Housing Interlinkages
Cun, Wukuang - 2020
This paper develops and solves a spatiotemporal equilibrium model in which regional wages and house prices are determined jointly with location-to-location migration flows. The agent's optimal location choice and the resultant migration process is shown to be Markovian with the transition...
Persistent link: https://www.econbiz.de/10012852498
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A Spatiotemporal Equilibrium Model of Migration and Housing Interlinkages
Cun, Wukuang; Pesaran, M. Hashem - 2022
This paper develops and solves a spatiotemporal equilibrium model in which regional wages and house prices are jointly determined with location-to-location migration flows. The agent’s optimal location choice and the resultant migration process are shown to be Markovian, with the transition...
Persistent link: https://www.econbiz.de/10013323973
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International migration and regional housing markets : evidence from France
Albis, Hippolyte d’; Boubtane, Ekrame; Coulibaly, Dramane - 2017
This article examines the causal relations between non-European immigration and the characteristics of the housing market in host regions. We constructed a unique database from administrative records and used it to assess annual migration flows into France's 22 administrative regions from 1990...
Persistent link: https://www.econbiz.de/10011607539
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Can Owning a Home Hedge the Risk of Moving?
Sinai, Todd M. - 2011
Conventional wisdom holds that one of the riskiest aspects of owning a house is the uncertainty surrounding its sale price, especially if one moves to another housing market. However, households who sell a house typically buy another house, whose purchase price is also uncertain. We show that...
Persistent link: https://www.econbiz.de/10013134244