Income inequality and house prices across US states?
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Date
Authors
Berisha, Edmond
Meszaros, John
Gupta, Rangan
Journal Title
Journal ISSN
Volume Title
Publisher
Elsevier
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.
Description
Keywords
Inequality, House prices, Regional studies
Sustainable Development Goals
SDG-08:Decent work and economic growth
Citation
Berisha, E., Meszaros, J. & Gupta, R. 2023, 'Income inequality and house prices across US states?', Quarterly Review of Economics and Finance, vol. 91, pp. 192-197, doi : 10.1016/j.qref.2022.11.004.