Events
Brown Bag Seminar: George Galster
George Galster, emeritus professor of Wayne State, joins us Nov. 9 for:
Housing Prices and Interregional Migration in a High Homeownership Regime
The hypothesis that housing price inflation in top-tier metropolitan areas generates distinctive in- and out-migration effects that disadvantage those of less education and skill, is widely accepted. Nevertheless, this theory pays insufficient attention to how housing prices play different roles for renters and homeowners. We test this conventional hypothesis by analyzing flows of working age individuals into and out of metropolitan Oslo, Norway since 1992 to ascertain how its significant post-2000 housing price inflation has altered migration in a context when the vast majority of households are homeowners. Using a 30-year panel, we estimate education-stratified competing-risk models of migration and housing prices, controlling for interregional income, amenity and employment differences and individual/family characteristics. We find that the conventional hypotheses were supported only in the cases of migration to Oslo of the less-educated from nonmetropolitan areas and the better-educated from tier-2 cities. Results for all other flows rejected the conventional hypotheses. Higher relative housing prices in Oslo were negatively related to the probability of migrating to both tier-2 cities and non-urban areas, especially for the better-educated. These unexpected findings can be explained by viewing housing price inflation as a measure of enhanced homeowner wealth and expectations of future appreciation.
George Galster earned his Ph.D. in Economics from M.I.T. with summa cum laude undergraduate degrees from Wittenberg and Case Western Reserve Universities. He has published 185 peer-reviewed articles and 49 book chapters on topics ranging from metropolitan housing markets, racial discrimination and segregation, neighborhood dynamics, residential reinvestment, community lending and insurance patterns, neighborhood effects, and urban poverty. His ten authored, co-authored, and edited books include Homeowners and Neighborhood Reinvestment (1987); Dynamics of Neighborhood Change and Decline (1987), The Maze of Urban Housing Markets (1991); The Metropolis in Black and White (1992); Reality and Research: Social Science and American Urban Policy since 1960 (1996); Why NOT in My Back Yard?: The Neighborhood Impacts of Assisted Housing (2003); Life in Poverty Neighborhoods (2005); Frontiers of Quantifying Neighborhood Effects (2008); Driving Detroit: The Quest for Respect in the Motor City (2012); and Making Our Neighborhoods, Making Our Selves (2019).
Dr. Galster provides a wealth of experience in academic, governmental, non-profit, and for-profit circles, both in the U.S. and abroad. He has held positions at the Universities of: Harvard, California-Berkeley, North Carolina, Amsterdam, Delft, Glasgow, Mannheim, Uppsala, and Western Sydney, among others. He served as Director of Housing Research at the Urban Institute in Washington, DC before coming to Wayne State University in 1996. Dr. Galster has been a consultant to the U.S. Department of Housing and Urban Development, U.S. Department of Justice, numerous municipalities, community organizations, civil rights groups, and private organizations like the National Association of Realtors, American Bankers Association, and Fannie Mae. He has served on the Consumer Advisory Council of the Federal Reserve’s Board of Governors, National Academy of Science review committees, boards of Community Development Financial Institutions, and numerous other leadership positions in community service. Public officials in Australia, Bulgaria, Canada, China, France, Scotland, United Arab Emirates, and the U.S. have sought his housing and neighborhood policy consultations.
George Galster’s scholarly work has been influential. An independent analysis of the Social Science Citations Index in 2017 ranked him 8th in the world in the field of Urban Studies, and his current H-index is 81, with over 27,000 citations. He was recognized in 2016 by the Urban Affairs Association with its prestigious “Contributions to the Field of Urban Affairs” Award.
PSC’s Brown Bag seminar series typically convenes Mondays at noon, at ISR Thompson Room 1430, and on Zoom.
https://umich.zoom.us/j/954186
Meeting ID: 954 1861 0585
Passcode: 818420
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Meeting ID: 954 1861 0585
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Meeting ID: 954 1861 0585
Passcode: 818420