Income Migration and Home Price Trajectories in the United States

Author

Start Page / End Page

Volume

Issue Number

Year

Publication

Samuel M. Otterstrom

277 / 302

18

2

2015

International Real Estate Review

Abstract


This paper models one facet of the relationship between housing market price shifts and income migration among U.S. regions: how income migration relates to regional housing price clusters. The tremendous negative slide in national housing prices from 2006 to 2012 had an uneven spatial distribution. These differences are explored within the context of net income and net population migration (movement of money with people). Median housing prices for urban areas from 2005 to 2010 and IRS county-to-county migration data are used to compare income migration among urban clusters of similar housing price trends. Selective migrations of people and income in and out of these housing clusters have either exacerbated the housing bust or softened its decline. Income effectiveness, or the gain or loss of money caused by migration, is a helpful measure that can be used to help predict future housing price movements.
 

Download Entire Article

 

Keywords

Income migration, United States, Housing prices, Income effectiveness

Back to Previous Page