The housing cycle in Eastern Massachusetts: variations among cities and towns

Karl Case and Christopher Mayer

New England Economic Review, 1995, issue Mar, 24-40

Abstract: Numerous studies over the years have attempted to identify the impact of amenities on housing price levels within specific metropolitan areas. It is well know, for example, that local public goods, tax burdens, school quality, crime rates, and the like are capitalized into land values. This article divides the Eastern Massachusetts area into small groups of similar towns and examines the pattern of price changes across those groups during the boom, bust, and recovery periods. Since 1982, differences in appreciation rates across cities and towns have been particularly pronounces. The authors find that housing affordablility was the most important factor explaining price changes during the boom period, but location, schools, and a town's employment base became relatively more consequential during the bust and the recovery.

Keywords: Housing - Boston; New England (search for similar items in EconPapers)
Date: 1995
References: Add references at CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.bostonfed.org/economic/neer/neer1995/neer295b.htm (text/html)
http://www.bostonfed.org/economic/neer/neer1995/neer295b.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedbne:y:1995:i:mar:p:24-40

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in New England Economic Review from Federal Reserve Bank of Boston Contact information at EDIRC.
Bibliographic data for series maintained by Catherine Spozio ().