EconPapers    
Economics at your fingertips  
 

Aging and Urban House Prices

Oliver Lerbs and Norbert Hiller

Annual Conference 2015 (Muenster): Economic Development - Theory and Policy from Verein für Socialpolitik / German Economic Association

Abstract: This paper investigates the long-run relationship between the size and age structure of a city s resident population and the price of local housing. For estimation purposes, we combine city-level demographic information with housing price data for 87 cities in Germany over 1995-2012. Employing a panel error correction framework that accounts for the evolution of city in-come and housing financing costs, we find that real urban house prices per-form stronger in cities that age less rapidly. A combination of the empirical estimates with current population projections suggests that population aging will exert considerable downward pressure on urban house prices in upcoming years.

JEL-codes: G12 J11 R31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age and nep-ure
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/113136/1/VfS_2015_pid_221.pdf (application/pdf)

Related works:
Working Paper: Aging and urban house prices (2016) 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:zbw:vfsc15:113136

Access Statistics for this paper

More papers in Annual Conference 2015 (Muenster): Economic Development - Theory and Policy from Verein für Socialpolitik / German Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().

 
Page updated 2020-01-01
Handle: RePEc:zbw:vfsc15:113136