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Download fileThe Impact of Uncertainty on State-Level Housing Markets of the United States: The Role of Social Cohesion
journal contribution
posted on 2023-07-26, 15:20 authored by Linyan Dai, Xin ShengWhile considering the role of social cohesion, we analyse the impact of uncertainty on housing markets across the 50 states of the United States, plus the District of Columbia, using the local projection method for panel data. We find that both short-term and long-term measurements of macroeconomic and financial uncertainties reduce real housing returns, with the strongest effect originated from the macro-economic uncertainty over the long term. Moreover, the degree of social cohesion does not change the nature of the impact of uncertainty on real housing returns dramatically, but the size of the negative effects is relatively large for states with low social cohesion.
History
Refereed
- Yes
Volume
13Issue number
6Page range
3065Publication title
SustainabilityISSN
2071-1050External DOI
Publisher
MDPIFile version
- Published version
Language
- eng