Data and Code for: "Home Prices Expectations and Spending: Evidence From a Field Experiment"

Principal Investigator(s):  View help for Principal Investigator(s) Felix Chopra, Frankfurt School of Finance; Christopher Roth; Johannes Wohlfart, University of Cologne

Version:  View help for Version V1

Name File Type Size Last Modified
  code 06/10/2025 07:45:AM
  data 06/10/2025 07:44:AM
  out 06/10/2025 07:44:AM
README.md text/x-web-markdown 14.3 KB 06/10/2025 03:44:AM
README.pdf application/pdf 57.9 KB 06/10/2025 03:44:AM

Citation: 

Chopra, Felix, Roth, Christopher, and Wohlfart, Johannes. Data and Code for: “Home Prices Expectations and Spending: Evidence From a Field Experiment”: replication. Nashville, TN: American Economic Association [publisher], 2025. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2025-06-16. https://doi.org/10.3886/E217262V1-182221

To view the citation for the overall project, see http://doi.org/10.3886/E217262V1.

Project Description

Summary:  View help for Summary We conduct a field experiment with US households to study how expectations about long-run home price growth shape spending decisions. We exogenously vary survey respondents’ expectations by providing different expert forecasts. Homeowners’ spending, measured using rich home-scanner data, is inelastic to home price expectations. By contrast, renters reduce their spending when expecting higher home price growth. These patterns reflect positive endowment effects for owners from higher future wealth and negative income effects for both groups due to higher future housing costs. Our study highlights consequences of asset price growth and long-term expectations about the economy for household behavior.


Scope of Project

Subject Terms:  View help for Subject Terms Expectations; consumption; housing
JEL Classification:  View help for JEL Classification
      C93 Field Experiments
      D14 Household Saving; Personal Finance
      D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness


Related Publications

Download this project

Published Versions

V1 [2025-06-16]

Export Metadata

Dublin Core

DDI 2.5

Report a Problem

Found a serious problem with the data, such as disclosure risk or copyrighted content? Let us know.

This material is distributed exactly as it arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.