Home price expectations are believed to play an important role in housing dynamics, yet we have limited understanding …. These results are consistent with recent behavioral models of housing cycles. Finally, we present robust evidence of home … price expectations impacting (actual and intended) housing-related behaviors, both in the cross section and within-individual. …

shocks in transportation costs. Such a shock, indeed, entails negative transition effects that are caused by housing …

This paper use spatial econometric models to test for racial preferences in a small urban housing market. Identifying … three strategies to redress this problem: (1) we focus on housing price differences across microneighborhoods in the small … have lower housing prices. However, racial price discounts are no longer significant when we account for the spatial …

, including how housing prices should be measured. Previous researchers typically have used some combination of rental payments … and homeowner housing values, but housing values are forward-looking and may not reflect current user costs. This paper … examines differences in quality of life estimates for U.S. metropolitan areas using, alternatively, rents and housing values …

particular service, it does not capture the cost of housing services. The shadow price of housing captures the welfare cost to a … household of changes in housing prices. In this paper we create a new shadow price index using RPI data and the shadow price of … housing and investigate how replacing the mortgage interest with the shadow price of housing affects measures of the cost of …

In this paper we develop a measure of current expenditures on housing services for owner-occupiers. Having such a … measuring inflation. From a theoretical perspective expenditures equal the shadow price of housing services (the marginal rate … of substitution between housing services and non-durable consumption) multiplied by the quantity of housing services …

We study sources and consequences of fluctuations in the housing market. The upward trend in real housing prices of the … last 40 years can be explained by slow technological progress in the housing sector. Over the business cycle, housing … demand and housing technology shocks explain one-quarter each of the volatility of housing investment and housing prices …

We estimate the network externality of a public transit system by examining the effects of its expansion on the housing …. Evaluated at the mean housing price, the expansion increased the value of pre-connected apartments by at least S$386 million …

Using the data on maintenance expenditures and self-assessed house value, I separate the measure of individual housing … stock and house prices, and use these data for testing whether nondurable consumption and housing are characterized by … nondurable consumption and housing. I reach a similar conclusion for some separate consumption categories, such as food and …