Cash-Only Real Estate Transactions and Property Prices in San Francisco, California
Yamile Abdala Rioja ()
MPRA Paper from University Library of Munich, Germany
In recent years, there has been the common shared belief that international investors and other buyers of real estate in cash-only transactions have exercised an upward pressure in property prices in the city of San Francisco in California, the consequence being the crowding-out on buyers requiring access to credit. This paper examines real estate prices and cash sales for the period beginning after the last recession to the year 2015, as well as other significant drivers since the year 1998. The results suggest a contradiction to the cash-only claim, at the same time that they reveal a strong relationship between the technology sector and the real estate prices in the city.
Keywords: Real Estate; Mortgage; San Francisco Tech Pulse; Business Cycles; Interest Rates (search for similar items in EconPapers)
JEL-codes: E32 E4 R31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cse, nep-mac and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:72737
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