CHAPTER 17

Land Prices and Uncertainty

In collaboration with Shreya Mittal and Jonathan Laws

How have house prices fluctuated in the different regions in the United States over the last 30 years? Which factor has had the biggest effect on house price fluctuations and with these findings? What is the future outlook for this factor’s impact on house prices? The goal of Davis and Palumbo (2008) is to answer these questions by analyzing and comparing how house prices in large metropolitan areas of the United States have fluctuated between 1984 and 2004, and finding reasons for the results. In addition, the paper uses their findings to predict the future path of house prices in these cities.

In the year 1998, the United States experienced some of ...

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