This book provides a comprehensive analysis of housing theory and policy with a focus on metropolitan regions. The results are based on case studies of twelve European metropolitan regions, including expert panels organized in each. Using an approach from the field of industrial economics, the...

The housing market exhibits a puzzling yet repetitive seasonal boom and bust cycle where prices and trade volume rise in summers and fall in winters. This paper presents a search model that analytically generates the observed deterministic cycle.

This paper examines the future dynamics of the relative housing price-to-income ratio (RHPIR) in China. We find that the convergence in RHPIR will be more congregated in the non-center cities of city clusters, the cities from the eastern region, with a net outflow of population, and low economic...