Glaeser, Edward L; Gyourko, Joseph; Saks, Raven - In: Journal of Law and Economics 48 (2005) 2, pp. 331-69
In Manhattan, housing prices have soared since the 1990s. Although rising incomes, lower interest rates, and other factors can explain the demand side of this increase, some sluggishness in the supply of apartment buildings is needed to account for high and rising prices. In a market dominated...