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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Location, location, location: manufacturing and house price growth |
| Organization Unit | |
| Authors |
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| Language |
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| Institution | Centre for Economic Policy Research |
| Series Name | Discussion Paper Series |
| Number | DP15409 |
| ISSN | 0265-8003 |
| Number of Pages | 27 |
| Date | 2020 |
| Abstract Text | Exploiting data on tens of millions of housing transactions, we show that (1) house prices grew by less in manufacturing-heavy US regions and (2) that this pattern is especially present for the lowest-value homes. Counterfactual accounting exercises reveal that regional differences in the growth of these lowest-value homes more than fully account for an observed increase in overall house price inequality. We conclude that the relative economic decline of manufacturing- heavy areas extends far beyond income and employment flows to include shifts in important local asset prices, a pattern which matters for total house price inequality. |
| Official URL | https://cepr.org/active/publications/discussion_papers/dp.php?dpno=15409# |
| Other Identification Number | merlin-id:20557 |
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