Document Type
Preprint
Publication Date
10-1-2023
Journal / Book Title
Quarterly Review of Economics and Finance
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.
DOI
10.1016/j.qref.2022.11.004
MSU Digital Commons Citation
Berisha, Edmond; Meszaros, John; and Gupta, Rangan, "Income inequality and house prices across US states" (2023). Department of Economics Faculty Scholarship and Creative Works. 89.
https://digitalcommons.montclair.edu/economics-facpubs/89
Rights
© 2023 Published by Elsevier Inc. on behalf of Board of Trustees of the University of Illinois. Notice : this is the author’s version of a work that was submitted for publication in Quarterly Review of Economics and Finance. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms are not reflected in this document. A definitive version was subsequently published in Quarterly Review of Economics and Finance, vol. 91, pp. 192-197, doi : 10.1016/j.qref.2022.11.004.
Published Citation
Berisha, E., Meszaros, J., & Gupta, R. (2023). Income inequality and house prices across US states. The Quarterly Review of Economics and Finance, 91, 192-197.