{"title":"Covid-19 impact on US housing markets: evidence from spatial regression models","authors":"Jim Lee, Yuxia Huang","doi":"10.1080/17421772.2021.2018028","DOIUrl":null,"url":null,"abstract":"ABSTRACT This paper empirically investigates the conventional wisdom that urban residents have reacted to the Covid-19 pandemic by fleeing city centres for the suburbs. A conventional panel model of US ZIP code-level data provides mixed evidence in support of a shifting housing preference for more space or neighbourhoods farther from the urban core. Regressions accounting for spatial dependence and spatial heterogeneity show strong support of an urban flight within metro areas, but this local phenomenon is uneven across broad regions of the United States. The finding of geographical disparity underscores both the local as well as the regional nature of housing market conditions.","PeriodicalId":47008,"journal":{"name":"Spatial Economic Analysis","volume":"17 1","pages":"395 - 415"},"PeriodicalIF":1.5000,"publicationDate":"2022-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"10","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Spatial Economic Analysis","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/17421772.2021.2018028","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 10
Abstract
ABSTRACT This paper empirically investigates the conventional wisdom that urban residents have reacted to the Covid-19 pandemic by fleeing city centres for the suburbs. A conventional panel model of US ZIP code-level data provides mixed evidence in support of a shifting housing preference for more space or neighbourhoods farther from the urban core. Regressions accounting for spatial dependence and spatial heterogeneity show strong support of an urban flight within metro areas, but this local phenomenon is uneven across broad regions of the United States. The finding of geographical disparity underscores both the local as well as the regional nature of housing market conditions.
期刊介绍：
Spatial Economic Analysis is a pioneering economics journal dedicated to the development of theory and methods in spatial economics, published by two of the world"s leading learned societies in the analysis of spatial economics, the Regional Studies Association and the British and Irish Section of the Regional Science Association International. A spatial perspective has become increasingly relevant to our understanding of economic phenomena, both on the global scale and at the scale of cities and regions. The growth in international trade, the opening up of emerging markets, the restructuring of the world economy along regional lines, and overall strategic and political significance of globalization, have re-emphasised the importance of geographical analysis.
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