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House prices have increased significantly in Canada over the past decade, driving household debt and residential construction activity to historical highs. Although macro-prudential tightening has slowed the pace of household borrowing in the last few years, house prices have continued to trend...
Persistent link: https://www.econbiz.de/10011276860
A considerable housing boom has been a key feature of persistently large saving-investment imbalances in New Zealand over the past decade. Wealth is concentrated to a greater extent in property compared to most other OECD countries, leaving households and the banking system heavily exposed to a...
Persistent link: https://www.econbiz.de/10009149950
New Zealand’s housing supply has not kept pace with rising demand, including from net immigration. Affordability has worsened, particularly for low-income renters. Government action is underway to allow new housing through initiatives such as the Urban Growth Agenda, KiwiBuild and the Housing...
Persistent link: https://www.econbiz.de/10012111105
House prices have increased significantly in Canada over the past decade, driving household debt and residential construction activity to historical highs. Although macro-prudential tightening has slowed the pace of household borrowing in the last few years, house prices have continued to trend...
Persistent link: https://www.econbiz.de/10010464985
Les prix des logements ont sensiblement augmenté au Canada au cours des dix dernières années, portant la dette des ménages et la construction de logements à des points hauts historiques. Bien que le durcissement de la politique macroprudentielle ait ralenti la croissance des emprunts des...
Persistent link: https://www.econbiz.de/10012454769
Property taxation can be used in a Pigouvian way to raise the costs of environment and decrease land use consumption for the benefit of enviromental protection. However, in presence of a growing shortage of funding over time, local governments can use property taxation in order to ‘fill the...
Persistent link: https://www.econbiz.de/10010876089
With tightening public finances, land value capture (LVC) can be an attractive fiscal tool to finance ever-increasing demands for transport infrastructure. This paper begins by discussing the principles of LVC and individual LVC instruments in the context of infrastructure provision, with a...
Persistent link: https://www.econbiz.de/10013278678
This paper reviews the literature and policy discussions about the role of the property tax for land use. Various externalities of the development of land, such as new infrastructure needs, the loss of open space or air pollution due to longer commutes as people locate far from city centres, are...
Persistent link: https://www.econbiz.de/10012454358
effects of large-lot zoning on land conversion, land prices, and the spatial configuration and density of new development. The … and prices over a 20-year time period. Zoning regulations in the form of minimum lot size restrictions imposed in an … region undeveloped until quite late in the simulation period. While house prices are higher with 5-acre zoning, land prices …
Persistent link: https://www.econbiz.de/10010608486
We model residential land use constraints as the outcome of a political economy game between owners of developed and owners of undeveloped land. Land use constraints benefit the former group via increasing property prices but hurt the latter via increasing development costs. In this setting,...
Persistent link: https://www.econbiz.de/10010636490