Gentrification, Mobility, and Consumption
General Economics
2024-07-10 v1 Economics
Abstract
We study the effect of localized housing price hikes on renters' mobility, consumption, and credit outcomes. Consistent with a spatial equilibrium model, we find that the consumption responses vary greatly for movers and stayers. While movers increase their consumption, purchase homes, and cars, stayers are relatively unaffected.
Cite
@article{arxiv.2407.06695,
title = {Gentrification, Mobility, and Consumption},
author = {Giacomo De Giorgi and Enrico Moretti and Harrison Wheeler},
journal= {arXiv preprint arXiv:2407.06695},
year = {2024}
}