What is Housing Price to Income Ratio (HPIR) in the Indian context?It is the amount that can be spent by an individual or a household on purchase of new property (mainly house/residence) with the annual savings post taxes. For simple calculations it is assumed is that a. 10% of the income goes...

In the past decades, gentrification has transformed American central city neighborhoods. In this paper, I estimate a spatial equilibrium model to show that the rising value of high-skilled workers' time contributes to the gentrification of American central cities. I show that the increasing...

This paper analyzes the role of uncertainty in a multi-sector housing model with financial frictions. We include time varying uncertainty (i.e. risk shocks) in the technology shocks that affect housing production. The analysis demonstrates that risk shocks to the housing production sector are a...

This paper attempts to estimate the impact of population ageing on house prices. There is considerable debate about whether population ageing puts downwards or upwards pressure on house prices. The empirical approach differs from earlier studies of this relationship, which are mainly regression...

This paper develops and estimates a model to explain the behaviour of house prices in the United States. The main finding is that over 70% of the increase in house prices relative to trend during the increase of house prices in the United States from 1995 to 2006 can be explained by a pricing...

We provide the first solid evidence that Chinese superstitious beliefs can have significant effects on house prices in a North American market with a large immigrant population. Using real estate data on close to 117,000 house sales, we find that houses with address number ending in four are...

This paper analyzes the role of uncertainty in a multi-sector housing model with financial frictions. We include time varying uncertainty (i.e. risk shocks) in the technology shocks that affect housing production. The analysis demonstrates that risk shocks to the housing production sector are a...

Home adequacy for different groups in the U.S. has not been adequately studied. Using the data from the national level American Housing Survey for the year 2009 and logit model, this paper finds that there is a significant adequacy difference for Blacks and Hispanics when compared to whites in...

In this paper we shall examine homeownership trends over the past 3 to 4 decades and discuss differences related to the homeownership gap for women and men, with a focus on most recent trends. We shall compare differences in the US to those in countries with different institutional structures...

In this paper we shall examine homeownership trends over the past 3 to 4 decades and discuss differences related to the homeownership gap for women and men, with a focus on most recent trends. We shall compare differences in the US to those in countries with different institutional structures...