Income inequality and house prices across US states

Edmond Berisha; John Meszaros; Rangan Gupta

doi:10.1016/j.qref.2022.11.004

Income inequality and house prices across US states

Edmond Berisha
, John Meszaros
, Rangan Gupta

Economics

Research output: Contribution to journal › Article › peer-review

2 Scopus citations

Abstract

This paper studies the secular increase in US income inequality and its relation to growing house prices over the past three decades. We explore income inequality's effect on house prices based on a high-frequency (quarterly) data-set for all US states, including the District of Columbia. The analysis shows that higher income inequality decreases the growth rate of house prices. However, the relationship differs for the Northeast region. We find higher income inequality corresponds with higher house prices across the states within the Northeast region.

Original language	English
Pages (from-to)	192-197
Number of pages	6
Journal	Quarterly Review of Economics and Finance
Volume	91
DOIs	https://doi.org/10.1016/j.qref.2022.11.004
State	Published - Oct 2023

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 10 Reduced Inequalities

Keywords

House Prices
Inequality
Regional Studies

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10.1016/j.qref.2022.11.004

Cite this

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title = "Income inequality and house prices across US states",

abstract = "This paper studies the secular increase in US income inequality and its relation to growing house prices over the past three decades. We explore income inequality's effect on house prices based on a high-frequency (quarterly) data-set for all US states, including the District of Columbia. The analysis shows that higher income inequality decreases the growth rate of house prices. However, the relationship differs for the Northeast region. We find higher income inequality corresponds with higher house prices across the states within the Northeast region.",

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N2 - This paper studies the secular increase in US income inequality and its relation to growing house prices over the past three decades. We explore income inequality's effect on house prices based on a high-frequency (quarterly) data-set for all US states, including the District of Columbia. The analysis shows that higher income inequality decreases the growth rate of house prices. However, the relationship differs for the Northeast region. We find higher income inequality corresponds with higher house prices across the states within the Northeast region.

AB - This paper studies the secular increase in US income inequality and its relation to growing house prices over the past three decades. We explore income inequality's effect on house prices based on a high-frequency (quarterly) data-set for all US states, including the District of Columbia. The analysis shows that higher income inequality decreases the growth rate of house prices. However, the relationship differs for the Northeast region. We find higher income inequality corresponds with higher house prices across the states within the Northeast region.

KW - House Prices

KW - Inequality

KW - Regional Studies

UR - https://www.scopus.com/pages/publications/85142824106

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DO - 10.1016/j.qref.2022.11.004

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JF - Quarterly Review of Economics and Finance

ER -

Income inequality and house prices across US states

Abstract

UN SDGs

Keywords

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