Electronic Theses and Dissertations

Date of Award

2012

Document Type

Dissertation

Degree Name

M.A. in Economics

First Advisor

Walter J. Mayer

Second Advisor

Joshua Hendrickson

Third Advisor

William Chappell

Abstract

Housing literature has consistently found a statistically significant, inverse relationship between foreclosures and housing prices. Such research has been primarily focused on specific, local markets. This thesis expands on the literature, featuring housing and macro data for 127 metropolitan areas. This thesis constructs hypotheses on the relationships between distressed sales and foreclosures in order to structure potential relationships between distressed sales and housing prices. Using dynamic panel models and time series analysis, this thesis finds both inverse and positive relationships between distressed sales and house prices. Additionally, this thesis finds that changes in distressed sales are only predictive of future changes in house prices in 32 of the 127 metro areas. The findings in this thesis come together to discuss the unique behaviors of house markets at both metro and regional levels.

Included in

Economics Commons

Share

COinS
 
 

To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.