IDEAS home Printed from https://ideas.repec.org/p/red/sed012/79.html
   My bibliography  Save this paper

The Ins and Arounds of the Housing Market

Author

Listed:
  • Daniel Cooper

    (Federal Reserve Bank of Boston)

  • Ruediger Bachmann

    (RWTH Aachen University)

Abstract

This paper uses longitudinal micro data from the Panel Study of Income Dynamics (PSID) to document the turnover behavior in the housing market. Fact 1: moves are procyclical. Fact 2: the gross flows into and out of the owner-occupied segment of the housing market are four times larger than the corresponding net flows. Fact 3: net flows and gross flows into and out of the owner-occupied segment of the housing market are procyclical. Fact 4: rent-to-rent flows lead the cycle, but then become countercyclical. Fact 5: rent-to-own flows tend to lead the cycle. Fact 6: own-to-own flows tend to lag the cycle. Fact 7: own-to-rent flows are acyclical. Fact 8: geographically close moves within the same zip code are procyclical for all households, but acyclical for households with a displaced household head. Fact 9: moves across state lines are procyclical independently of the labor market fate of the household. Fact 10: there is little evidence that labor market flows, in particular flows from employment into unemployment, drive housing flows.

Suggested Citation

  • Daniel Cooper & Ruediger Bachmann, 2012. "The Ins and Arounds of the Housing Market," 2012 Meeting Papers 79, Society for Economic Dynamics.
    • Handle: RePEc:red:sed012:79
    as

    Download full text from publisher

    File URL: https://red-files-public.s3.amazonaws.com/meetpapers/2012/paper_79.pdf
    Download Restriction: no
    ---><---

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:red:sed012:79. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Christian Zimmermann (email available below). General contact details of provider: https://edirc.repec.org/data/sedddea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.