Conventional wisdom held that housing prices couldn’t fall. But the spectacular boom and bust of the housing market during the first decade of the twenty-first century and millions of foreclosed homeowners have made it clear that housing is no different from any other asset in its ability to...

Governments worldwide subsidize rural broadband expansion to address the urban-rural connectivity divide, but the economic benefits and costs remain unclear. This paper examines the causal effect of high-speed Internet on real estate prices and evaluates the fiscal effectiveness of rural...

Previous literature seldom discusses city-level housing price spillovers and city-level heterogeneous responses of housing prices to interest rate shocks. This paper adopts the recently developed globe vector autoregression (GVAR) model to empirically study not only the spillovers of housing...

The pattern of increasing suburban house prices relative to urban centers initiated during the pandemic continues to hold across the top 30 US metropolitan statistical areas (MSAs). In contrast, European countries such as Denmark, France, and the United Kingdom did not experience a similar shift...