On the Evolution of the House Price Distribution

  title={On the Evolution of the House Price Distribution},
  author={Takaaki Ohnishi and Takayuki Mizuno and Chihiro Shimizu and Tsutomu Watanabe},
Is the cross-sectional distribution of house prices close to a (log)normal distribution, as is often assumed in empirical studies on house price indexes? How does the distribution evolve over time? To address these questions, we investigate the cross-sectional distribution of house prices in the Greater Tokyo Area for the period 1986 to 2009. We find that sizeadjusted house prices follow a lognormal distribution except for the period of the housing bubble and its collapse in Tokyo, for which… CONTINUE READING


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