The housing market(s) of San Diego
By: Tim Landvoigt, Monika Piazzesi, Martin Schneider
Contributors: Piazzesi, Monika; Schneider, Martin; National Bureau of Economic Research
Series: NBER working paper series -- working paper 17723; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 17723.
Publisher: National Bureau of Economic Research
Published: 2012
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "This paper uses an assignment model to understand the cross section of house prices within a metro area.  Movers' demand for housing is derived from a lifecycle problem with credit market frictions.  Equilibrium house prices adjust to assign houses that differ by quality to movers who differ by age, income and wealth.  To quantify the model, we measure distributions of house prices, house qualities and mover characteristics from micro data on San Diego County during the 2000s boom.  The main result is that cheaper credit for poor households was a major driver of prices, especially at the low end of the market"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 2/28/2012.

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