Age, housing demand, and real house prices

摘要: Abstract Real house prices are directly determined by the willingness of households to pay for (and builders supply) a constant-quality house. Changes in quantity housing demanded will affect real only extent that long-run supply schedule is positively sloped. In this paper we use 1980 census data measure impact age structure, education and income on We compute total partial derivatives effect demand. The derivatives—which carry along with all average characteristics (i.e. income, marital status education) associated age—look much like Mankiw-Weil age-demand results. But suggest holding else constant, demand tends be flat or rising slightly age. Since fact held constant over life-cycle, believe our more accurately depict relationship thus aging population should not expected lower prices.