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Local economic conditions and the nature of new housing supply

Hilber, Christian A. L.; Rouwendal, Jan; Vermeulen, Wouter - London School of Economics (LSE) - 2014

We present a modified open monocentric city model that assumes that land is available for conversion into new housing throughout the city. The model predicts that positive local income shocks (i) increase the city’s share of multi-family housing in new construction and (ii) lead to the...

Persistent link: https://www.econbiz.de/10011277213

The political economy of housing supply: homeowners, workers, and voters

Ortalo-Magné, François; Prat, Andrea - London School of Economics (LSE) - 2007

hedge against the risk of rent ‡uctuations and their support for supply restrictions once they own housing. The model … generates an ine¢ ciently low supply of housing in equilibrium. The model also rationalizes the persistence of housing … undersupply: the more restricted the initial housing supply, the smaller the city size selected by the voting process. We use the …

Persistent link: https://www.econbiz.de/10011071149

The mortgage interest deduction and its impact on homeownership decisions

Hilber, Christian A. L.; Turner, Tracy M. - London School of Economics (LSE) - 2010

This paper examines the impact of the combined U.S. state and federal mortgage interest deduction (MID) on homeownership attainment, using data from 1984 to 2007 and exploiting variation in the subsidy across states, over time and due to inter-state moves. We test whether capitalization of the...

Persistent link: https://www.econbiz.de/10010884709

New housing supply and the dilution of social capital

Hilber, Christian A. L. - London School of Economics (LSE) - 2007

and social capital is stronger in more built-up neighborhoods with inelastic supply of new housing. In these neighborhoods …

Persistent link: https://www.econbiz.de/10010928759

The economic implications of house price capitalization: a synthesis

Hilber, Christian A. L. - London School of Economics (LSE) - 2015

geographical supply constraints; (ii) capitalization can – under certain conditions – induce the provision of durable local public …

Persistent link: https://www.econbiz.de/10011272169

House prices and rents: micro evidence from a matched dataset in Central London

Bracke, Philippe - London School of Economics (LSE) - 2013

Using the proprietary dataset of a real estate agency, I analyse tens of thousands of housing sale and rental transactions in Central London during the 2005-2011 period. I run hedonic regressions on both prices and rents and show that price-rent ratios are higher for bigger and more central...

Persistent link: https://www.econbiz.de/10010744927

Capitalization of central government grants into local house prices: panel data evidence from England

Hilber, Christian A. L.; Lyytikainen, Teemu; Vermeulen, … - London School of Economics (LSE) - 2010

We explore the impact of central government grants on local house prices in England using a panel data set of local authorities (LAs) from 2001 to 2008. Electoral targeting of grants to LAs by the incumbent national government provides an exogenous source of variation in grants that we exploit...

Persistent link: https://www.econbiz.de/10010745191

Explaining the black-white homeownership gap: the role of own wealth, parental externalities and locational preferences

Hilber, Christian A. L.; Liu, Yingchun - London School of Economics (LSE) - 2007

African Americans in the United States are considerably less likely to own their homes compared to Whites. Differences in household income and other socio-economic and demographic characteristics can only partially explain this gap and previous studies suggest that the ‘unexplained’ gap has...

Persistent link: https://www.econbiz.de/10010745486

The economics implications of house price capitalization a survey of an emerging literature

Hilber, Christian A. L. - London School of Economics (LSE) - 2011

capitalization is more pronounced in locations with strict regulatory and/or geographical/physical supply constraints; (ii …

Persistent link: https://www.econbiz.de/10011126064

Historic amenities, income and sorting of households

Koster, Hans R. A.; Rietveld, Piet; Van Ommeren, Jos - London School of Economics (LSE) - 2013

We test the impact of historic amenities on house prices and sorting of households within cities. Conservation area boundaries enable us to employ a semiparametric regression-discontinuity approach to measure the impact of historic amenities. The approach allows for household-specific...

Persistent link: https://www.econbiz.de/10011126409