Next Article in Journal
A Global PSS Framework for Sustainable B2B Partnership
Next Article in Special Issue
Sustainable Real Estate: Management, Assessment and Innovations
Previous Article in Journal
Prospects of Microalgae for Biomaterial Production and Environmental Applications at Biorefineries
Previous Article in Special Issue
An MCDM Model for Sustainable Decision-Making in Municipal Residential Buildings Facilities Management
Article

The Impact of Uncertainty on State-Level Housing Markets of the United States: The Role of Social Cohesion

by 1 and 2,*
1
Department of Landscape Architecture, University of Sheffield, Sheffield S10 2TN, UK
2
Lord Ashcroft International Business School, Anglia Ruskin University, Chelmsford CM1 1SQ, UK
*
Author to whom correspondence should be addressed.
Academic Editor: Pierfrancesco De Paola
Sustainability 2021, 13(6), 3065; https://doi.org/10.3390/su13063065
Received: 31 January 2021 / Revised: 4 March 2021 / Accepted: 8 March 2021 / Published: 11 March 2021
(This article belongs to the Special Issue Sustainable Real Estate: Management, Assessment and Innovations)
While considering the role of social cohesion, we analyse the impact of uncertainty on housing markets across the 50 states of the United States, plus the District of Columbia, using the local projection method for panel data. We find that both short-term and long-term measurements of macroeconomic and financial uncertainties reduce real housing returns, with the strongest effect originated from the macro-economic uncertainty over the long term. Moreover, the degree of social cohesion does not change the nature of the impact of uncertainty on real housing returns dramatically, but the size of the negative effects is relatively large for states with low social cohesion. View Full-Text
Keywords: social cohesion; uncertainty; U.S. housing markets; local projection method; impulse response functions social cohesion; uncertainty; U.S. housing markets; local projection method; impulse response functions
Show Figures

Figure 1

MDPI and ACS Style

Dai, L.; Sheng, X. The Impact of Uncertainty on State-Level Housing Markets of the United States: The Role of Social Cohesion. Sustainability 2021, 13, 3065. https://doi.org/10.3390/su13063065

AMA Style

Dai L, Sheng X. The Impact of Uncertainty on State-Level Housing Markets of the United States: The Role of Social Cohesion. Sustainability. 2021; 13(6):3065. https://doi.org/10.3390/su13063065

Chicago/Turabian Style

Dai, Linyan, and Xin Sheng. 2021. "The Impact of Uncertainty on State-Level Housing Markets of the United States: The Role of Social Cohesion" Sustainability 13, no. 6: 3065. https://doi.org/10.3390/su13063065

Find Other Styles
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Back to TopTop