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dc.contributor.authorMiles, William
dc.date.accessioned2017-04-27T16:28:30Z
dc.date.available2017-04-27T16:28:30Z
dc.date.issued2009
dc.identifier.citationWilliam Miles (2009) Housing Investment and the U.S. Economy: How Have the Relationships Changed?. Journal of Real Estate Research: 2009, Vol. 31, No. 3, pp. 329-349
dc.identifier.issn0896-5803
dc.identifier.otherWOS:000269903600004
dc.identifier.urihttp://aresjournals.org/doi/abs/10.5555/rees.31.3.u57l0h40h7jp615w
dc.identifier.urihttp://hdl.handle.net/10057/13026
dc.descriptionClick on the URL link to access the article (may not be free)
dc.description.abstractPrevious research has found that housing investment has a disproportionate role in the U.S. business cycle. This paper demonstrates that the relationship between housing and the rest of the economy has changed since financial deregulation and innovation in the early1980s. In particular, residential investment increases both consumption, as well as non-residential investment palpably more than in years past. Additionally, in the pre-deregulation years, non-residential investment appeared to crowd out housing activity. However, the results indicate that this effect is smaller in the present era than before the early 1980s, in all likelihood due to the switch from thrift-based financing of home mortgages to the current system in which secondary mortgage markets play a predominant role.
dc.language.isoen_US
dc.publisherAmerican Real Estate Society
dc.relation.ispartofseriesJournal of Real Estate Research;v.31:no.3
dc.subjectBusiness
dc.subjectFinance
dc.subjectEconomics
dc.titleHousing investment and the U.S. economy: how have the relationships changed?
dc.typeArticle
dc.rights.holderCopyright All rights reserved.


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