Spatial heterogeneity and spatial dependence are two well established aspects of house price developments. However, the analysis of differences in spatial dependence across time and space has not gained much attention yet. In this paper we jointly analyze these three aspects of spatial data. We...

Spatial heterogeneity and spatial dependence are two well established aspects of house price developments. However, the analysis of differences in spatial dependence across time and space has not gained much attention yet. In this paper we jointly analyze these three aspects of spatial data. We...

Spatial heterogeneity and spatial dependence are two well established aspects of house price developments. However, the analysis of differences in spatial dependence across time and space has not gained much attention yet. In this paper we jointly analyze these three aspects of spatial data. We...

There exists empirical evidence for Germany that income inequality has increased. Further, development of housing prices is quite heterogeneous between regions. In this paper we analyze regional inequality regarding purchasing power per capita. By contrast to the existing literature we apply...

This paper develops a model of the U.S. housing market that explains much of the time series of rents and house prices since World War II. House prices depend on expectations of future rents. We show that rents are tied to regional income inequality, and therefore, house prices are determined by...

This paper provides an analysis of the convergence pattern of German housing prices and rents employing a new dataset that covers all the country's administrative districts. In addition to conventional tests for 𝛽-convergence and 𝜎-convergence, we apply Phillips and Sul's (2007) approach...

Land use regulations have been pursued by many governments around the world. When making land development policies for cities that feature high population density and limited land supply, one question looms large: where and how much to build across different localities of a city? To answer this...

Shocks to the demand for housing that originate in one region may seem important only for that regional housing market. We provide evidence that such shocks can also affect housing markets in other regions. Our analysis focuses on the response of Canadian housing markets to oil price shocks. Oil...

Shocks to the demand for housing that originate in one region may seem important only for that regional housing market. We provide evidence that such shocks can also affect housing markets in other regions. Our analysis focuses on the response of Canadian housing markets to oil price shocks. We...

Government intervention in the housing market was partially driven by research showing that foreclosures lower neighboring housing values and thus increase neighbors' risk of foreclosure. While prior research has consistently identified a negative spillover effect of foreclosures on nearby...