Rationale Analysis of recent housing supply and demand trends, and of the factors contributing to them, is extremely useful to detect the emergence or existence of imbalances in the housing market, which is characterised by long lead times for house building. Takeaways •After the initial...

This paper proposes a methodology for estimation of spatial weights matrices which are consistent with a given or estimated pattern of spatial autocovariance. This approach is potentially useful for applications in urban, environmental, development, growth and other areas of economics where...

We propose and estimate an economic model of regional housing markets in England andWales, incorporating both the macroeconomic relationships between prices, demand and supply and a microeconomic model of search, matching and price formation. The empirical model, estimated separately for each of...

We use novel and unique data to study the effect of price changes in the market for luxury and middle class homes. We find that luxury home sales respond less to price changes than the middle-class home sales; in the market for luxury homes, past prices affect current prices; luxury home prices...

Obwohl die funktionale Mischung von Wohnen und Arbeiten die Schaffung von kompakten Siedlungsstrukturen verspricht, werden die Auswirkungen von arbeitsplatzwirksamen gewerblichen Entwicklungen auf den Wohnungsbedarf in der aktuellen Praxis nicht ausreichend gesteuert. In der Folge ergibt sich...

Earnings are riskier and more unequal for households born in the 1960s and 1980s than for those born in the 1940s. Despite the improvements in financial conditions, younger generations are less likely to be living in their own homes than older generations at the same age. By using a life-cycle...

We analyze households' joint investment decisions for financial wealth and homes. We use a bivariate censored regression model with endogenous switching. Fixed costs or transaction costs are captured by an unobserved nonzero censoring threshold. The model allows for spill-over effects of a...

After the high growth of 2006, the first quarter of 2007 also shows undiminished high construction production. Evidence of this is provided by the number of hours worked, which see growth rates in double figures in all fields of civil and structural engineering; yet it is surprising that growth...

In 2006, after years of stagnating and even significantly declining production, the construction industry finally experienced a year of strong growth (Table 1). In nominal terms, the industry expanded by 7% in 2006. After allowing for price increases, there was real growth of almost 5%, much...