Journal ArticleDOI
Depreciation of housing capital, maintenance, and house price inflation: Estimates from a repeat sales model
TLDR
In this paper, the authors used data from the American Housing Survey to examine the rate at which physical capital depreciates in the United States and found that the typical home appreciated at an annual real rate of roughly 0.75 percent, after allowing for depreciation and maintenance.About:
This article is published in Journal of Urban Economics.The article was published on 2007-03-01. It has received 285 citations till now. The article focuses on the topics: Physical capital & Capital gain.read more
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The Contagion Effect of Foreclosed Properties
TL;DR: In this paper, the authors provide robust evidence of a contagion discount by simultaneously estimating the local price trend and the incremental price impact of nearby foreclosures, showing that the discount grows from the onset of distress through the foreclosure sale and then stabilizes.
Journal ArticleDOI
The contagion effect of foreclosed properties
TL;DR: In this paper, the authors provide robust evidence of a contagion discount by simultaneously estimating the local price trend and the incremental price impact of nearby foreclosures, showing that the discount grows from the onset of distress through the foreclosure sale and then stabilizes.
Journal ArticleDOI
Housing busts and household mobility
TL;DR: In this article, the authors revisited the literature on lock-in effects and provided new estimates of the impacts of negative equity and rising interest rates on the mobility of owners, finding that owners suffering from negative equity are one-third less mobile and every added $1000 in real annual mortgage costs lowers mobility by about 12%.
Journal ArticleDOI
Old homes, externalities, and poor neighborhoods. A model of urban decline and renewal
TL;DR: This article investigated urban decline and renewal in the United States using three panels that follow neighborhoods on a geographically consistent basis over extended periods of time Findings indicate that change in neighborhood economic status is common, averaging roughly 13 percent per decade; roughly two-thirds of neighborhoods studied in 1950 were of quite different economic status fifty years later.
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Search, Liquidity, and the Dynamics of House Prices and Construction
TL;DR: In this article, a structural panel vector autoregressive (VAR) model is proposed for the US housing market, where the entry of new buyers and the construction of new houses in response to city-specific income shocks are endogenously determined.
References
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ReportDOI
The Efficiency of the Market for Single-Family Homes
TL;DR: In this article, weak-form efficiency of the market for single family homes is evaluated using data on repeat sales prices of 39,210 individual homes, each for two sales dates.
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The Efficiency of the Market for Single-Family Homes
Karl E. Case,Robert J. Shiller +1 more
TL;DR: In this paper, the efficiency of single family home prices is evaluated using repeat sales prices of 39,210 individual homes in Atlanta, Chicago, Dallas, and San Francisco/Oakland for 1970-86.
Journal ArticleDOI
A Regression Method for Real Estate Price Index Construction
TL;DR: In this paper, the problem of combining price relatives of repeat sales of properties to obtain a price index can be converted into a regression problem, and standard techniques of regression analysis can be used to estimate the index.
ReportDOI
Prices of Single Family Homes Since 1970: New Indexes for Four Cities
TL;DR: In this paper, the authors used data on nearly a million homes sold in four metropolitan areas (Atlanta, Chicago, Dallas and San Francisco) to construct quarterly indexes of existing home prices between 1970 and 1986.
Posted Content
Prices of Single Family Homes Since 1970: New Indexes for Four Cities
Karl E. Case,Robert J. Shiller +1 more
TL;DR: In this paper, the authors used data on nearly a million homes sold in four metropolitan areas (Atlanta, Chicago, Dallas and San Francisco) to construct quarterly indexes of existing home prices between 1970 and 1986.