Seminar

Seminar: Housing inequality

Wednesday March 23rd, David Albouy (University of Illinois) will present "Housing inequality".

Date
March 23, 2016
Time
00:00
Location
CPB-office, Van Stolkweg 14, The Hague

NOTE: THIS SEMINAR WILL TAKE PLACE ON A WEDNESDAY

Time: 13.00-14.00 hours
Location: CPB-office, Van Stolkweg 14, The Hague

Presentation: David Albouy (University of Illinois)

Discussant: Stefan Groot (CPB)

Language: English

Registration:  Please register here

Abstract subject:
Inequality in U.S. housing prices and rents both declined in the mid-20th century, even as home-ownership rates rose. Subsequently, housing-price inequality has risen to pre-War levels, while rent inequality has risen less. Combining both measures, we see inequality in housing consumption equivalents mirroring patterns in income across both space and time, according to an income elasticity of housing demand just below one. These patterns occur mainly within cities, and are not explained by observed changes in dwelling characteristics or locations. Instead, recent increases in housing inequality are driven most by changes in the relative value of locations, seen especially through land.

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