This paper uses wealth changes driven by housing market variation to estimate the effect of family resources on fertility decisions. Using data from the Panel Study of Income Dynamics, we show that a $100,000 increase in housing wealth among homeowners causes a 16-18 percent increase in the probability of having a child. There is no evidence of an effect of MSA-level housing price growth on the...

We investigate the effects of interregional labor market integration in a twosector, overlapping-generations model with land-intensive production in the nontradable goods sector (housing). To capture the response to migration on housing supply, capital formation is endogenous, assuming that firms face capital adjustment costs. Our analysis highlights heterogeneous welfare effects of labor marke...

The housing market plays a significant role in the economies of countries, and as an asset price channel, is considered as one of the main channels for monetary transmission mechanism. Considering the structure of the country's economy and the characteristics of housing as a capital commodity, the assessment of the impact of housing investment on inflation is important. This research evaluates ...

This study estimates and interprets the effects of macroeconomic and local housing market conditions on rents and occupancies in different segments of the multifamily rental housing market. The research uses longitudinal data from a nationally representative sample of apartments drawn from the American Housing Survey to determine whether apartments of different quality grades are differentially...

This paper studies the interaction between inequality and house prices using an incomplete market heterogeneous agent model. The model links cross-sectional household portfolio saving decisions to housing market outcomes, contributing to the housing literature by illustrating a new price formation mechanism in which the investment motive among the wealthy plays a key role. A quantitative applic...

Economic conditions exert a strong influence on regional migration. On the one hand, strong labour market conditions, as exemplified by low unemployment rates and high earnings, draw migrants into regions. On the other hand, strong housing market conditions can prevent movement since commuting may often be an alternative to migration. This can be thought of as giving rise to a migration equilib...

Although numerous academic papers have applied system dynamics (SD) models to real estate markets over the past generation, the technique remains relatively unknown and little used both in the academic economics literature and, more to the point, among practitioners and educators in the real estate community. Yet SD has the potential to address key needs among these constituencies. SD can provi...