Full Citation

Title: Urban Decline and Durable Housing

Citation Type: Journal Article

Publication Year: 2005

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DOI: https://doi.org/10.1086/427465

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Abstract: Urban decline is not the mirror image of growth, and durable housing is the primary reason the nature of decline is so different. This paper presents a model of urban decline with durable housing and verifies these implications of the model: (1) city growth rates are skewed so that cities grow more quickly than they decline; (2) urban decline is highly persistent; (3) positive shocks increase population more than they increase housing prices; (4) negative shocks decrease housing prices more than they decrease population; (5) if housing prices are below construction costs, then the city declines; and (6) the combination of cheap housing and weak labor demand attracts individuals with low levels of human capital to declining cities.

Url: https://www.jstor.org/stable/10.1086/427465

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Authors: Gyourko, Joseph;; Glaeser, Edward L.

Periodical (Full): Journal of Political Economy

Issue: 2

Volume: 113

Pages: 345-375

Data Collections: IPUMS USA, IPUMS CPS

Topics: Housing and Segregation

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