Assistant Professor of Economics Nicholas Kacher discussed the effects of rising home prices on regional businesses on the Academic Minute podcast, on Inside Higher Ed. “We find that higher regional home prices boost the creation of entirely new businesses, especially in areas with high homeownership rates, since homeowners’ access to credit increases as the value of their homes rise,” he said. “But higher prices—and especially increases in rent relative to income for poorer households—seems to deter existing businesses from opening new branches in an area, likely due to the challenge of attracting employees in unaffordable areas.”