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Demography and housing demand: What can we learn from residential construction data
Stockholm University, Faculty of Social Sciences, Department of Human Geography.
2008 (English)In: Journal of Population Economics, Vol. 21, no 3, 521-539 p.Article in journal (Refereed) Published
Abstract [en]

There are obvious reasons why residential construction should depend on the population's age structure. We estimate this relation on Swedish time series data and Organization for Economic Cooperation and Development panel data. Large groups of young adults are associated with higher rates of residential construction, but there is also a significant negative effect from those above 75. Age effects on residential investment are robust and forecast well out-of-sample in contrast to the corresponding house price results. This may explain why the debate around house prices and demography has been rather inconclusive. Rapidly aging populations in the industrialized world makes the future look bleak for the construction industry.

Place, publisher, year, edition, pages
2008. Vol. 21, no 3, 521-539 p.
URN: urn:nbn:se:su:diva-17651ISI: 000255876600002OAI: diva2:184172
Available from: 2009-01-19 Created: 2009-01-19 Last updated: 2011-01-10Bibliographically approved

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Malmberg, Bo
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