The U.S. population is becoming increasingly urban and has gradually shifted to the south and west. Policy restrictions have played a role in preventing dynamic areas expanding, and when they do expand it can be through low-density housing sprawl. Land use restrictions and a sluggish housing...

By combining fresh estimates of housing supply and prices with recent long-term projections for their fundamental drivers such as population, income and interest rates, this paper produces scenarios for residential investment and real house prices up to 2050. For half of the covered countries,...

New Zealand’s housing supply has not kept pace with rising demand, including from net immigration. Affordability has worsened, particularly for low-income renters. Government action is underway to allow new housing through initiatives such as the Urban Growth Agenda, KiwiBuild and the Housing...

Making housing more affordable ranks high on the policy agenda across the world. One way to achieve affordable housing is to ensure sufficiently elastic supply of the housing stock in response to demand shocks. This paper aims at disentangling policy from non-policy drivers in explaining...