House prices and land prices under the microscope: a property-level analysis for the Washington, DC area

Our data show that land prices were more volatile than house prices during the recent boom/bust cycle. In areas where land was inexpensive in 2000, the land share of property value jumped during the boom, and this rise in the land share was a useful predictor of the subsequent crash in house prices. These results highlight the value of focusing on land for assessing house-price risk.

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Year of publication:	2014-05
Authors:	Oliner, Stephen D. ; Pinto, Edward J. ; Davis, Morris A.
Institutions:	American Enterprise Institute
Subject:	Housing finance \| housing bubble \| AEI Economic Policy Working Paper Series \| housing market

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Extent:	text/html
Series:	Working Papers.
Type of publication:	Book / Working Paper
Classification:	R - Urban, Rural, and Regional Economics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011156849