Economics, Econometrics and Finance
4 years ago

Residential land prices in the US twice as volatile as home prices.

2 views
SSRN Electronic Journal
The Price and Quantity of Residential Land in the United States
Morris A. Davis, Jonathan Heathcote

Paper Summary

The researchers analyzed data on residential land prices in the US since 1970. They found that residential land prices have grown faster and been more volatile than home prices. Residential land under 1-4 unit structures makes up a significant portion of the housing market value and GDP. The real stock of residential land has increased slightly each year. Residential investment influences residential land prices. In 2003, the total value of residential land equaled the annual GDP.

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