We explore how house prices evolve under technological progress, when housing serves for consumption as well as store …

In this paper, we present a directed search model of the housing market. The pricing mechanism we analyze reflects the …. Our model offers a new way to look at the housing market from a search-theoretic perspective. In addition, we contribute …

We study the effect of borrowing constraints in an assignment model of the housing market. When constraints apply … symmetrically to all households, these lead to lower prices but unchanged housing consumption. When households can invest their own … wealth and may differ in tastes, borrowing constraints will in general result in lower house prices and higher housing …

have more difficulties in explaining short run developments of the housing markets. However, the fact that during such …. We also show that commonly used housing market indicators, notably the number of vacancies (houses for sale) and the time …

In housing markets with asymmetric information list prices may signal unobserved properties of the house or the seller …. Asymmetric information is the starting point of many models for the housing market. In this paper, we estimate the causal effect …

This paper identifies the role of cultural diversity in explaining spatial disparities in wages and housing prices … and housing market. We find that an increase in the cultural diversity of the population positively impacts equilibrium … wages and housing prices, particularly in the largest and most densely populated cities. This result is largely driven by …

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 … Housing Survey from 1984 to 2004 and find support for both predictions. We confirm that the adjustment process is driven by …

, combining German and Dutch real estate datasets, we study the jump in the housing price occurring at the border. Using different … estimation strategies, we find that ask prices of comparable housing drop by about 16% when one crosses the Dutch-German border …