Location, Location, Location: Manufacturing and House Price Growth
نویسندگان
چکیده
Abstract Exploiting data on tens of millions housing transactions, we show that (1) house prices grew by less in manufacturing-heavy US regions, (2) this pattern is especially present for the lowest-value homes and (3) price declines coincided with worse labour market outcomes, consistent an income channel. Counterfactual accounting exercises reveal regional differences growth these are important driver changes overall inequality. Hence, economic decline areas extends far beyond employment flows to prices.
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ژورنال
عنوان ژورنال: The Economic Journal
سال: 2023
ISSN: ['1742-0350', '0013-0133', '1468-0297']
DOI: https://doi.org/10.1093/ej/uead008