A New Spatial Hedonic Equilibrium in the Emerging Work-from-Home Economy?

Jan Brueckner, Matthew Kahn and Gary C. Lin

No 28526, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper studies the impacts of work-from-home (WFH) in the housing market from both intercity and intracity perspectives. Our results confirm the theoretical prediction that WFH puts downward pressure on housing prices and rents in high-productivity counties, a result of workers starting to relocate to cheaper metro areas during the pandemic without forsaking their desirable jobs. We also show that WFH tends to flatten intracity house-price gradients, weakening the price premium associated with good job access.

JEL-codes: R14 R23 (search for similar items in EconPapers)
Date: 2021-03
New Economics Papers: this item is included in nep-cwa and nep-ure
Note: EEE PE
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Citations: View citations in EconPapers (32)

Published as Jan K. Brueckner & Matthew E. Kahn & Gary C. Lin, 2023. "A New Spatial Hedonic Equilibrium in the Emerging Work-from-Home Economy?," American Economic Journal: Applied Economics, vol 15(2), pages 285-319.

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Journal Article: A New Spatial Hedonic Equilibrium in the Emerging Work-from-Home Economy? (2023)
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