The 2000s Housing Cycle With 2020 Hindsight: A Neo-Kindlebergerian View

Abstract
With “2020 hindsight,” the 2000s housing cycle is not a boom-bust but rather a boom- bust-rebound at both the national level and across cities. We argue this pattern reflects a larger role for fundamentally-rooted explanations than previously thought. We construct a city-level long-run fundamental using a spatial equilibrium regression framework in which house prices are determined by local income, amenities, and supply. The fundamental predicts...
Paper Details
Title
The 2000s Housing Cycle With 2020 Hindsight: A Neo-Kindlebergerian View
Published Date
Aug 9, 2021
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