The Ship Appears to be Turning

Eli Beracha, Hilla Skiba and Mark Hirschey

Journal of Housing Research, 2012, vol. 21, issue 2, 261-280

Abstract: Since early 2007, housing has experienced a prolonged slump in prices. This study investigates the state of housing markets across the United States as of June 2011 and finds that housing is undervalued in almost all markets. Two housing affordability measures (price-to-income ratio and mortgage payment-to-income ratio) show ownership is less costly today than during most of the nation's recent past. Additionally, a buy versus rent analysis suggests that ownership rather than renting is the preferable housing tenure choice from a financial standpoint in the majority of American real estate markets. These findings combine to indicate the presence of near term unprecedented opportunities for home ownership.

Date: 2012
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10835547.2012.12092058 (text/html)
Access to full text is restricted to subscribers.

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:taf:rjrhxx:v:21:y:2012:i:2:p:261-280

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rjrh20

DOI: 10.1080/10835547.2012.12092058

Access Statistics for this article

Journal of Housing Research is currently edited by Kimberly Goodwin

More articles in Journal of Housing Research from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().