Philadelphia Fed's Historical Housing Prices Project Fills Data Gap for Pre-1970 Housing Markets
By
luu
Crumbles when you bite it. Light on filling.
Summary
The Historical Housing Prices Project at the Philadelphia Fed addresses the lack of long-run housing price data, particularly pre-1970, by creating new datasets using historical newspaper real estate sections. The project covers 30 major US cities and examines how housing impacts economic well-being, wealth-building opportunities, and the overall economy.
Key quotes
· 3 pulledHousing impacts individual economic well-being, influences wealth-building opportunities, and is vital to the overall economy
Despite the critical importance of housing to the U.S. economy, existing long-run housing price series are limited, particularly covering the years before 1970
The Historical Housing Prices (HHP) Project, now housed at the Philadelphia Fed, began with support from the National Science Foundation
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