New economy housing markets: Fast and furious - But different?

John D. Landis, Vicki Elmer, Matthew Zook

Research output: Contribution to journalArticlepeer-review

20 Scopus citations


This article explores the effects of metropolitan industrial structure on housing market outcomes. Housing prices in new economy metropolitan areas are found to be higher, peakier, and more volatile than in old economy markets. Homeownership rates are found to be lower in new economy metropolitan areas, while crowding is higher. Although the distribution of housing values, costs, and rents was more equal in new economy markets, the cause would seem to be differences in area income levels, with poorer metropolitan statistical areas having greater inequalities. Regression analysis is used to identify the contribution of traditional supply and demand factors, such as job growth, income, and residential construction, as well as new economy indicators, to housing market outcomes. Rather than being fundamentally different, new economy housing markets are found to be faster and more extreme versions of traditional housing markets.

Original languageEnglish
Pages (from-to)233-274
Number of pages42
JournalHousing Policy Debate
Issue number2
StatePublished - 2002


  • Affordability
  • Homeownership
  • New economy

ASJC Scopus subject areas

  • Development
  • Urban Studies
  • Management, Monitoring, Policy and Law


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