MSA-level estimates of a housing supply schedule must offer a solution to the twin problems of simultaneity and stationarity that plague the time series data for local housing prices and stock. An Error Correction Model (ECM) is shown to provide a solution to stationarity, but not simultaneity....

This empirical paper examines the question of whether movements in housing sales predict subsequent movement in house prices - or the converse. The former (positive) relationship is well hypothesized by several frictional search models of housing market transactions or quot;churnquot;. The...

This paper examines the causes of the run up in house prices between 1998 and 2006 and the subsequent fall. It is argued that two unique factors have been at work: a true quot;bubblequot; in 2nd homes, and a fundamental expansion and now contraction of mortgage credit availability. These...

This paper examines the strong positive correlation that exists between the volume of housing sales and housing prices. We first examine gross housing flows in the US and divide sales into two categories: transactions that involve a change or choice of tenure, as opposed to owner-to-owner churn....

This paper is able to put together a data base of 86 repeat sales transactions for office properties in lower and mid town Manhattan spanning the years from 1899 through 1999. Using this very limited data base, decade-interval changes in real property prices are estimated - with varying degrees...

This paper examines how communities will behave if they are given the option of taxing the property of commercial establishments (factories, shopping centers, office buildings, etc) at different rates from residential housing. In the last 2 decades many states have enacted legislation which...