Archive: Shenyi Jiang

A glass jar full of coins and plant growing through it with some coins and plant leaves.

The brief’s key findings are: Regional variations in U.S. house prices provided a natural experiment to test how price changes influence household spending. Households age 51 and over who saw rapid growth in house prices increased their spending on non-durables (e.g., meals out, vacations, and entertainment). The annual increase was modest but, if sustained over…