House Price Trends in Coastal US Cities

2021 ◽  
pp. 21-37
Author(s):  
Risa Palm ◽  
Toby Bolsen
Keyword(s):  
Author(s):  
Geoffrey Meen ◽  
Christine Whitehead

Whatever measure of affordability is used house prices and rents play a central role and Chapter 3 is concerned with what causes these two variables to change over time and vary across different parts of the country. Although increases in house prices have been particularly strong in the UK by international standards, other countries are also discussed. In fact, house price trends and volatility can be explained by a fairly small number of variables – and their influence has been remarkably consistent over the last fifty years. The problem has been rather that house prices are very sensitive to changes in incomes, interest rates and credit conditions and these vary greatly over time. Therefore, modest changes in macroeconomic conditions have disproportionate effects on housing. UK empirical work on market rents is less well-developed than for house prices, but the chapter considers the reasons why rents appear to have risen at a slower rate than house prices.


2006 ◽  
Vol 6 (3) ◽  
pp. 1850094 ◽  
Author(s):  
Robert C. Shelburne ◽  
Jose Palacin

This study examines residential house price trends in the East European economies. The data are described and evaluated in terms of their quality and reliability; both official data from national statistical offices and that compiled by real estate companies are used. Current prices are evaluated in terms of the economic fundamentals in the region including GDP growth rates, interest rates, rental prices, alternative asset prices, and the availability of mortgages. The role of foreign currency mortgages is given special treatment given their importance in a number of countries and the vulnerabilities they introduce. For some of the markets a more detailed description of price trends by region or type of property is provided. Comparisons with western markets are made where appropriate. Generally it is concluded that price increases have been quite significant but any over appreciation is difficult to evaluate given the very positive changes in the economic fundamentals. In addition to price trends, the implications of the changing institutional structure of these mortgage markets are explained along with the implications of the housing market developments for consumer spending, fiscal and monetary policy. The possibility of a housing bubble and bust is examined along with its implications for the economy; policy options to minimize this likelihood and its consequences are also explored with due consideration of the limitations on macroeconomic policy options given the constraints imposed by euro accession in a number of the countries.


2019 ◽  
Vol 12 (4) ◽  
pp. 722-735
Author(s):  
Benedikt Blaseio ◽  
Colin Jones

Purpose Increasing regional wealth disparities have been explained by the role of agglomeration economies and the concentration of skilled mobile human capital. This paper aims to draw out the role of the housing market by considering the differential experience of Germany and the UK. Design/methodology/approach The empirical analysis is based on the comparison of regional house price trends in Germany and UK-based annual data from 1991 to 2015. Findings Regional house price inequality is found to have increased in both countries with the spatial concentration of skilled human capital. However, the main conclusion is that there are differential paths to regional house price inequality explained by the parameters of each country’s housing market. Originality/value The research is the first to compare and explain differential regional house price trends across countries.


2010 ◽  
Vol 58 (2) ◽  
pp. 225-252 ◽  
Author(s):  
Martin Lux ◽  
Petr Sunega

1977 ◽  
Vol 9 (7) ◽  
pp. 795-804 ◽  
Author(s):  
R I Palm

House price trends for San Francisco Bay area neighborhoods are only partially explained by the set of variables commonly used to assess house price levels. It is likely that such nonmarket factors as local building restrictions, differential mortgage financing policies, and real-estate agent behavior contribute to the relative inability of the cross-sectional model to predict change. In addition, the relationship of independent variables to price change shows great variation among different housing submarkets, casting doubt on the assumption that elasticities derived by a hedonic study for the metropolitan area as a whole represent the utility functions of buyers within more limited housing submarkets.


Author(s):  
Michael Mascarenhas

Three very different field sites—First Nations communities in Canada, water charities in the Global South, and the US cities of Flint and Detroit, Michigan—point to the increasing precariousness of water access for historically marginalized groups, including Indigenous peoples, African Americans, and people of color around the globe. This multi-sited ethnography underscores a common theme: power and racism lie deep in the core of today’s global water crisis. These cases reveal the concrete mechanisms, strategies, and interconnections that are galvanized by the economic, political, and racial projects of neoliberalism. In this sense neoliberalism is not only downsizing democracy but also creating both the material and ideological forces for a new form of discrimination in the provision of drinking water around the globe. These cases suggest that contemporary notions of environmental and social justice will largely hinge on how we come to think about water in the twenty-first century.


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