Price Elasticities Of Housing Supply Housing Assistance Supply Experiment
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Author | : C. Peter Rydell |
Publisher | : |
Total Pages | : 84 |
Release | : 1982 |
Genre | : Business & Economics |
ISBN | : |
Analyzes the price elasticity of the supply of rental housing services, defined as the percentage increase in supply associated with a one percent increase in price. The purpose of the report is to predict the price changes associated with supply responses to shifts in demand. Section II analyzes each component of supply response separately. It presents price elasticities for the repair, inventory, and occupancy responses to demand shifts. It reviews the literature on all three and offers new estimates for the second and third (the estimates are based on the analysis of Annual Housing Survey data from the U.S. Census Bureau reported in Appendix B). Section III combines the three individual supply elasticities into a composite elasticity. It accomplishes the integration using a model of housing-market responses to demand shifts presented in Appendix C. The model was built during the Housing Assistance Supply Experiment to explain the housing market's response to demand shifts caused by an experimental housing allowance program.
Author | : Thomas Sowell |
Publisher | : Basic Books (AZ) |
Total Pages | : 194 |
Release | : 2009-05-12 |
Genre | : Business & Economics |
ISBN | : 0465018807 |
Explains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.
Author | : Rand Corporation |
Publisher | : |
Total Pages | : 0 |
Release | : 1976 |
Genre | : |
ISBN | : |
Author | : |
Publisher | : |
Total Pages | : 204 |
Release | : 1981 |
Genre | : Housing |
ISBN | : |
Author | : Rob Nijskens |
Publisher | : Springer |
Total Pages | : 220 |
Release | : 2019-06-14 |
Genre | : Business & Economics |
ISBN | : 3030116743 |
This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house prices to soar and increases the pressure on rental markets. These developments are posing major challenges for policymakers, central banks and other authorities responsible for ensuring financial stability, and economic well-being in general.This volume collects views from high-level policymakers and researchers, providing essential insights into these challenges, their impact on society, the economy and financial stability, and possible policy responses. The respective chapters address issues such as the popularity of cities, the question of a credit-fueled housing bubble, the role of housing supply frictions and potential policy solutions. Given its scope, the book offers a revealing read and valuable guide for everyone involved in practical policymaking for housing markets, mortgage credit and financial stability.
Author | : Edward Ludwig Glaeser |
Publisher | : Oxford University Press |
Total Pages | : 284 |
Release | : 2008 |
Genre | : Business & Economics |
ISBN | : 019929044X |
220 million Americans crowd together in the 3% of the country that is urban. 35 million people live in the vast metropolis of Tokyo, the most productive urban area in the world. The central city of Mumbai alone has 12 million people, and Shanghai almost as many. We choose to live cheek by jowl, in a planet with vast amounts of space. Yet despite all of the land available to us, we choose to live in proximity to cities. Using economics to understand this phenomenon, the urban economist uses the tools of economic theory and empirical data to explain why cities exist and to analyze urban issues such as housing, education, crime, poverty and social interaction. Drawing on the success of his Lindahl lectures, Edward Glaeser provides a rigorous account of his research and unique thinking on cities. Using a series of simple models and economic theory, Glaeser illustrates the primary features of urban economics including the concepts of spatial equilibrium and agglomeration economies. Written for a mathematically inclined audience with an interest in urban economics and cities, the book is written to be accessible to theorists and non-theorists alike and should provide a basis for further empirical work.
Author | : Geoffrey Meen |
Publisher | : Springer |
Total Pages | : 322 |
Release | : 2016-04-29 |
Genre | : Business & Economics |
ISBN | : 1137472715 |
The world has still to emerge fully from the housing-triggered Global Financial Crisis, but housing crises are not new. The history of housing shows long-run social progress, littered with major disasters; nevertheless the progress is often forgotten, whilst the difficulties hit the headlines. Housing Economics provides a long-term economic perspective on macro and urban housing issues, from the Victorian era onwards. A historical perspective sheds light on modern problems and the constraints on what can be achieved; it concentrates on the key policy issues of housing supply, affordability, tenure, the distribution of migrant communities, mortgage markets and household mobility. Local case studies are interwoven with city-wide aggregate analysis. Three sets of issues are addressed: the underlying reasons for the initial establishment of residential neighbourhoods, the processes that generate growth, decline and patterns of integration/segregation, and the impact of historical development on current problems and the implications for policy.
Author | : Edward L. Glaeser |
Publisher | : University of Chicago Press |
Total Pages | : 0 |
Release | : 2013-08-19 |
Genre | : Business & Economics |
ISBN | : 9780226030586 |
Conventional wisdom held that housing prices couldn’t fall. But the spectacular boom and bust of the housing market during the first decade of the twenty-first century and millions of foreclosed homeowners have made it clear that housing is no different from any other asset in its ability to climb and crash. Housing and the Financial Crisis looks at what happened to prices and construction both during and after the housing boom in different parts of the American housing market, accounting for why certain areas experienced less volatility than others. It then examines the causes of the boom and bust, including the availability of credit, the perceived risk reduction due to the securitization of mortgages, and the increase in lending from foreign sources. Finally, it examines a range of policies that might address some of the sources of recent instability.
Author | : Jerry A. Hausman |
Publisher | : University of Chicago Press |
Total Pages | : 304 |
Release | : 2007-12-01 |
Genre | : Social Science |
ISBN | : 0226319423 |
Since 1970 the United States government has spent over half a billion dollars on social experiments intended to assess the effect of potential tax policies, health insurance plans, housing subsidies, and other programs. Was it worth it? Was anything learned from these experiments that could not have been learned by other, and cheaper, means? Could the experiments have been better designed or analyzed? These are some of the questions addressed by the contributors to this volume, the result of a conference on social experimentation sponsored in 1981 by the National Bureau of Economic Research. The first section of the book looks at four types of experiments and what each accomplished. Frank P. Stafford examines the negative income tax experiments, Dennis J. Aigner considers the experiments with electricity pricing based on time of use, Harvey S. Rosen evaluates housing allowance experiments, and Jeffrey E. Harris reports on health experiments. In the second section, addressing experimental design and analysis, Jerry A. Hausman and David A. Wise highlight the absence of random selection of participants in social experiments, Frederick Mosteller and Milton C. Weinstein look specifically at the design of medical experiments, and Ernst W. Stromsdorfer examines the effects of experiments on policy. Each chapter is followed by the commentary of one or more distinguished economists.
Author | : Josh Ryan-Collins |
Publisher | : John Wiley & Sons |
Total Pages | : 140 |
Release | : 2018-11-26 |
Genre | : Political Science |
ISBN | : 1509523294 |
Throughout the Western world, a whole generation is being priced out of the housing market. For millions of people, particularly millennials, the basic goal of acquiring decent, affordable accommodation is a distant dream. Leading economist Josh Ryan-Collins argues that to understand this crisis, we must examine a crucial paradox at the heart of modern capitalism. The interaction of private home ownership and a lightly regulated commercial banking system leads to a feedback cycle. Unlimited credit and money flows into an inherently finite supply of property, which causes rising house prices, declining home ownership, rising inequality and debt, stagnant growth and financial instability. Radical reforms are needed to break the cycle. This engaging and topical book will be essential reading for anyone who wants to understand why they can’t find an affordable home, and what we can do about it.