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

rent are strongly correlated with perceptions of house price risk. Households' exposure to housing risk due to financial … constraints, expected mobility or labor income risk affect the decision to buy versus rent but do not mitigate the impact of risk …

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 model predicts that a credit supply shock can generate large comovements between the house price and the price-to-rent …Aggregate housing demand shocks are an important source of house price fluctuations in the standard macroeconomic … to generate a highly volatile price-to-rent ratio that comoves with the house price observed in the data (the “price-rent …

of housing demand. Our model generalizes previous applied econometric work by incorporating realistic features of the … for capturing salient features of housing demand observed in the PSID. After estimating the model we use it to simulate …

' probabilities of staying at their addresses by nearly 20%. Landlords treated by rent control reduced rental housing supply by 15 … benefits to covered tenants. Welfare losses from decreased housing supply could be mitigated if insurance against rent …We exploit quasi-experimental variation in assignment of rent control to study its impacts on tenants, landlords, and …

estimates of supply and demand elasticities, which we use to estimate the drop in natural gas prices that is attributable to the …, we provide the first estimates of broad-scale welfare and distributional implications of this supply boom. We provide new … supply expansion. We calculate large, positive welfare impacts for four broad sectors of gas consumption (residential …