Bloomberg View cites AER article about real estate
The London city skyline is shown at sunset.
Maridav
Justin Fox cited an òòò½Íø Review article published in February in a piece about how soaring real estate prices worsen inequality and slow growth. The AER article by , , and examined the evolution of home prices in advanced economies since 1870. The authors showed that real house prices stayed constant from the 19th and mid-20th century, but have since risen substantially. Rising land prices were largely to blame, explaining about 80 percent of the global home price boom since World War II.