Current Issues in Economics and Finance
Second District Highlights
Second District House Prices: Why So Weak in the 1990s?
January 1999Volume 5, Number 2
JEL classification: R21, G12

Authors: Matthew Higgins, Carol Osler, and Anjali Sridhar

Between 1990 and 1997, poor economic fundamentals and a prolonged hangover from excessively rapid growth in the 1980s caused house prices in the New York metropolitan area to grow much more slowly than prices nationwide; these factors played a smaller role in the decline of upstate New York's house prices relative to the nation's.

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