Housing price dynamics within a metropolitan area

Karl Case and Christopher Mayer

No 95-3, Working Papers from Federal Reserve Bank of Boston

Abstract: This paper analyzes the pattern of house price appreciation in the Boston area from 1982 to 1994. The empirical results are consistent with the predictions of a standard urban model in which towns have a fixed set of amenities. The evidence suggests that changes in the cross-sectional pattern of house prices are related to differences in manufacturing employment, demographics, new construction, proximity to the downtown, and to aggregate school enrollments. These findings support the view that town amenities are not easily replicated or quickly adaptable to shifts in demand, even within a metropolitan area.

Keywords: Housing; -; Finance (search for similar items in EconPapers)
Date: 1995
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Citations: View citations in EconPapers (8)

Published in Regional Science and Urban Economics 26, no. 3-4 (1996): 387-407

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Related works:
Journal Article: Housing price dynamics within a metropolitan area (1996)
Working Paper: Housing Price Dynamics Within a Metropolitan Area (1995)
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