In this essay, we review the basic economics of housing supply and the functioning of US housing markets to better …

going to understand boom-bust housing cycles, we must incorporate housing supply. In this paper, we present a simple model … of housing bubbles that predicts that places with more elastic housing supply have fewer and shorter bubbles, with … exclusively experienced in cities where housing supply is more inelastic. More elastic places had slightly larger increases in …

the bid-rent curve is larger when working from home is more prevalent, housing markets are more regulated, and supply is …

segmentation. We estimate this moment using three different credit supply instruments and use it to calibrate our model. Our …

empirical strategy for estimating so-called 'zoning taxes' - the amount by which land prices are bid up due to supply side … zoning tax estimates are strongly positively correlated with a new measure of local housing market supply constraint (the …