EconPapers    
Economics at your fingertips  
 

Location, Location, Location: Manufacturing and House Price Growth

Xiangyu Feng, Nir Jaimovich, Krishna Rao, Stephen Terry and Nicolas Vincent

The Economic Journal, 2023, vol. 133, issue 653, 2055-2067

Abstract: Exploiting data on tens of millions of housing transactions, we show that (1) house prices grew by less in manufacturing-heavy US regions, (2) this pattern is especially present for the lowest-value homes and that (3) price declines coincided with worse labour market outcomes, consistent with an income channel. Counterfactual accounting exercises reveal that regional differences in the growth of these lowest-value homes are an important driver of the changes in overall house price inequality. Hence, the economic decline in manufacturing-heavy areas extends far beyond income and employment flows to house prices.

Date: 2023
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1093/ej/uead008 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Location, Location, Location: Manufacturing and House Price Growth (2020) Downloads
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:oup:econjl:v:133:y:2023:i:653:p:2055-2067.

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

The Economic Journal is currently edited by Francesco Lippi

More articles in The Economic Journal from Royal Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press () and ().

 
Page updated 2025-03-19
Handle: RePEc:oup:econjl:v:133:y:2023:i:653:p:2055-2067.