Explaining metropolitan housing price differences |
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| Authors: | Larry Ozanne Thomas Thibodeau |
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| Institution: | The Urban Institute, 2100 M Street, N.W., Washington, D.C. 20037 U.S.A. |
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| Abstract: | Housing prices differ substantially among metropolitan areas. The rent and house price indexes used here measure this variation among 54 metropolitan areas. A model of metropolitan housing price determination is presented and used to identify the sources of intermetropolitan price variation. Reduced-form equations explain close to 90% of the variation in rental prices and close to 60% of the variation in house prices. |
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