In this paper, we examine cross-regional spillover effects in the Korean housing market, using the predictive directional spillover index and the connectedness measurement. The basic finding is that Seoul has been the most influential market in Korea among various combinations of regional housing markets. We also presented evidence that other metropolitan cities affect only neighboring regions....

I examine changes in the city-suburban housing price gap in metropolitan areas with and without court-ordered desegregation plans over the 1970s, narrowing my comparison to housing units on opposite sides of district boundaries. Desegregation of public schools in central cities reduced the demand for urban residence, leading urban housing prices and rents to decline by 6 percent relative to nei...

This study examines the dynamics of real housing price appreciation in 130 metropolitan areas across the United States. The study finds that real housing price appreciation is strongly influenced by the growth of population and real changes in income, construction costs and interest rates. The study also finds that stock market appreciation imparts a strong current and lagged wealth effect on h...

Usually housing is viewed in the context of consumption resulting from other economic drivers such as income and employment. Here, we study how two key local economic measures, the gross metropolitan product (GMP) and unemployment rate, respond to shocks in home value appreciation, home sales, and new construction, respectively. Our analysis relies upon a large panel of 158 metropolitan statist...

For the past three decades “separate but unequal” has characterized the residential location of blacks and to a lesser degree Hispanics. These groups are more likely to be residentially isolated and live in lower-quality neighborhoods. Recently, researchers have turned their attention towards understanding minorities’ residential mobility, since it is the behavior underlying where individuals l...

The Housing Choice Voucher program was created, in part, to help low income households reach a broader range of neighborhoods and schools. Rather than concentrating low income households in designated developments, vouchers allow families to choose their housing units and neighborhoods. In this project we explore whether low income households use the flexibility provided by vouchers to reach ne...

The controversial Section 8 Housing Choice Voucher program is the largest federal low-income housing program. Using GIS-based spatial clustering analysis (Getis–Ord’s Gi statistic) and multiple linear regressions, in this paper, the authors examine the locational patterns of more than 13,600 Section 8 housing units in Jefferson County, Kentucky, and explore key social, economic, demographic, an...

Gasoline prices influence where households decide to locate by changing the cost of commuting. Consequently, the substantial increase in gas prices since 2003 may have reduced the demand for housing in areas far from employment centers, leading to a decrease in the price and/or quantity of housing in those locations relative to locations closer to jobs. Using annual panel data on ZIP codes and ...