Full Citation

Title: Do-It-Yourself Home Improvement: Changes for Measured GDP and Long-Run Housing Values

Citation Type: Miscellaneous

Publication Year: 2014

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Abstract: The housing bubble and bust become more dramatic when unpaid homeowner labor is included in GDP. Based on the American Housing Survey, I calculate that investment in home improvement increases by 36% for 1997 to 2009 when unpaid homeowner labor is included. This 36% relative increase has been roughly constant from 1997 to 2009. On the other hand, total home improvement investment rose dramatically during the housing bubble and fell slightly after it popped. Therefore, GDP becomes more volatile when unpaid homeowner labor is included.

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Authors: Soloveichik, Rachel

Publisher: Bureau of Economic Analysis

Data Collections: IPUMS USA

Topics: Housing and Segregation, Other

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