Demographic Factors and Real House PricesRichard K. Green, Patric H. Hendershott
NBER Working Paper No. 4332 Real house prices are directly determined by the willingness of households to pay for (and willingness of builders to supply) a constant-quality house. Changes in the quantity of housing demanded will affect real prices only to the extent that the long-run housing supply schedule is positively sloped. In this paper we use 1980 census data to measure the impact of the age structure and real income per household on the willingness of households to pay for a constant quality house. Extrapolating these variables forward to 2010, we conclude that evolving demographic forces are likely to raise real house prices. not lower them.
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Machine-readable bibliographic record - MARC, RIS, BibTeX Document Object Identifier (DOI): 10.3386/w4332 Published: "Age, Housing Demand and Real House Prices), Regional Science and Urban Economics, Vol. 26 (1996): 465-480. Users who downloaded this paper also downloaded these:
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