Oikarinen, Elias; Bourassa, Steven C.; Hoesli, Martin; … - 2017
housing supply and the income elasticity of prices, as well as bubble size and duration. The long-term elasticity of house … prices with respect to aggregate personal income averages 0.81, but varies considerably across metropolitan areas. The long …-term income elasticity generally is greater in the more supply-inelastic metropolitan areas, and we show that bubble size and …
