Previous empirical investigations provide evidence of substantial regional variation in the supply elasticity of … support the theoretical models indicating that the supply elasticity is largely a local phenomenon, i.e., dependent mainly on … city specific factors rather than the abundance of undeveloped land at the country level. The supply elasticity …

differences in the elasticity of housing supply can account for the wide variation in new construction volatility (but not price …Research on housing supply has grown owing to improved data combined with heightened interest in policies such as local … land use regulations. Heterogeneity in supply conditions across markets is shown to be essential to understanding the …