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 …

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 …

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 …

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