The measurement of house prices poses significant conceptual and practical problems, mainly because dwellings are heterogeneous assets whose prices can only be observed when they are sold. There are now seven main house price indices for the United Kingdom. In broad terms, each measures one of three different concepts: the value of a representative set of house transactions; the price of a hous...

The authors provide a detailed empirical analysis of Canadian city housing prices. They examine the long-run relationship between city house prices in Canada from 1981 to 2005 as well as idiosyncratic relations between city prices and city-specific variables. The results suggest that city house prices are only weakly correlated in the long run, and that there is a disconnect between house price...

a r t i c l e i n f o JEL Classification: D10 J13 R21 Keywords: Fertility HPI Credit constraints Home equity Cyclicality of births MSA Housing market This project investigates how changes in Metropolitan Statistical Area (MSA)-level house prices affect household fertility decisions. Recognizing that housing is a major cost associated with child rearing, and assuming that children are normal goo...

we have studied the relation between bank deposit rates and house prices in iran. for that, we have run some var models, using the following variables: real deposit rates (including 1 and 5 years deposit rates), money supply (including the high powered money and the liquidity), gdp, housing services index, and number of licenses for new houses. our results show that a reduction in the deposit r...

There is strong evidence that house prices and consumption are closely synchronized. There is, however, disagreement over the causes of this link. This paper examines if there is a wealth effect of house prices on consumption. We use a rich household level panel data set with information about house ownership, income, wealth, and demographics for a large sample of the Danish population in the p...

Using Health and Retirement Study (HRS) data, we create a new, up-todate panel dataset to investigate the impact of house price movements on the non-durable goods consumption of older households. We find that older homeowners respond asymmetrically when experiencing house price gains and house price losses. More specifically, they increase total non-durable goods expenditure when house prices a...

This paper analyzes the temporal pattern of prices for single-family housing. We estimate models of house price dynamics using a repeat sales framework, and we use the results to test for a random walk in asset prices. For eight large samples of housing transactions, representing essentially all house sales in Sweden during a 12-year period, we reject the hypothesis that house prices follow a r...

I propose a stylized model of the house-selling process in which sellers possess incomplete information regarding the state of the housing market. Consistent with the data, the model generates a negative correlation between house prices and time on market. This result is robust to the presence of real estate agents with complete information. I construct a measure of homeowner perceptions of hou...

The paper investigates how ageing will affect asset prices. A small model is used to show that economic and demographic factors drive asset, and in particular house, prices. These factors are estimated in a panel regression framework encompassing BIS real house price data from 22 advanced economies between 1970 and 2009. The estimates show that demographic factors affect real house prices signi...