No Price Like Home: Global House Prices, 1870-2012

How have house prices evolved over the long run? This paper presents annual house prices for 14 advanced economies since 1870. We show that real house prices stayed constant from the nineteenth to the mid-twentieth century, but rose strongly and with substantial cross-country variation in the second...

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Bibliographic Details
Published in:	The American economic review Vol. 107; no. 2; pp. 331 - 353
Main Authors:	Knoll, Katharina, Schularick, Moritz, Steger, Thomas
Format:	Journal Article
Language:	English
Published:	Nashville American Economic Association 01.02.2017 American Economic Assoc
Subjects:	1870-2012 19th century 20th century 21st century Agricultural prices Average prices Construction costs Decomposition Dwellings Economic growth Economic models Economics Historical analysis Houses Housing Housing needs Housing prices International Land economics Land prices Macroeconomics Price elasticity Price indices Prices Ratios Studies Trends Wealth World War II World wars
ISSN:	0002-8282, 1944-7981
Online Access:	Get full text
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