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

Jan K. Brueckner, Matthew Kahn and Gary C. Lin

American Economic Journal: Applied Economics, 2023, vol. 15, issue 2, 285-319

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: J24 J31 J61 R21 R23 R31 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (23)

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Working Paper: A New Spatial Hedonic Equilibrium in the Emerging Work-from-Home Economy? (2021)
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DOI: 10.1257/app.20210190

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