House price indexes: methodology and revisions

Joseph M. Silverstein

Research Rap Special Report, 2014, issue Jun

Abstract: Accurate measurements of house prices are important for a number of reasons. Housing is usually the most important investment a household ever makes, and home equity is typically the largest component of household wealth. In addition, housing is an important source of collateral for household borrowing, and, as we have seen, its value can be subject to considerable fluctuation. Also, research has shown that having a mortgage that is larger than the value of the underlying house is associated with an elevated risk of default.

Keywords: House; price; index (search for similar items in EconPapers)
Date: 2014
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