This paper investigates the long-run relationships between the size and age composition of a city's population and the price of local housing. For estimation purposes, we combine city-level demographic information with housing price data for 87 cities in Germany over the period 1995-2012....

This paper employs panel data on 413 counties and cities over 2004-2009 to investigate the local supply of new single-family housing in Germany. Construction activity in local housing markets (measured by new housing permits related to the local housing stock) is modeled as a function of local...

Individual sales prices and local vacancy rates in the housing market pose a natural analogy to the wage curve, a popular concept in labor economics that describes how individual wages decrease with higher local unemployment. While housing search and matching models and housing externalities...

This paper investigates the long-run relationships between the size and age composition of a city's population and the price of local housing. For estimation purposes, we combine city-level demographic information with housing price data for 87 cities in Germany over the period 1995-2012....

This paper employs panel data on 413 German counties and cities from 2004 to 2009 to investigate the supply of new single-family housing in local housing markets. New local housing supply is measured by the annual number of construction permits in relation to the existing single-family housing...

Beside the specific object attributes, location is the fundamental determinant for real estate. But how important is location within a city? Contrary to popular belief our results suggest that this parameter explains only a small proportion of price variation, whereas object attributes are...

Durch die Niedrigzinspolitik der EZB ist der Immobilienmarkt der Gefahr einer Preisblase ausgesetzt. Da eine Zinserhöhung in nächster Zeit nicht zu erwarten ist, rücken andere institutionelle Handlungsmöglichkeiten in den Fokus. Hohe Eigenkapitalquoten sowohl der Kreditnehmer als auch der...