Demand pressure, not supply inelasticity, explains coastal markets' high price volatility relative to other US markets … similar historical demand pressure, coastal markets saw greater average price growth, but no worse crashes and no greater …

identical demand changes in the 2000s across markets, a second that proxies for supply elasticity and demand changes in the 2000 … constraints to proxy for supply elasticity and uses state fixed effects to capture variation in demand conditions …There is no evidence that differences in supply elasticity caused cross sectional variation among US housing markets in …

developed later, and they increase in-migration from low-income areas. Results are driven by a large supply effect - we show …

developed later, and they increase in-migration from low-income areas. Results are driven by a large supply effect—we show that …

between prices, demand and supply. Since vacancy rates are not observable, the demand-supply mismatches are identified using a … markets when complete demand, supply and pricing data are not available. The model may also be useful when data are available …

This paper defines a measure of net housing demand or supply which allows the calculation of a long, high frequency … implies a net oversupply. Supply is defined as the available dwelling stock. Demand is calculated from the long term trend in … series is easily and inexpensively replicable. We formulate this measure as excess demand. A negative excess demand figure …

cities. City-level differences in housing demand are also correlated with supply elasticity. Controlling for industry, I … a greater share of growing industries experienced larger housing demand shocks, larger house price increases from 2000 …-2006 and greater declines from 2007-2012. Consistent with theory, price effects were stronger in housing-supply inelastic …

during busts. The standard model of housing demand treats housing as a quantity of "housing services", an imaginary …

to $65,000. Increasing the supply of affordable housing by 10%  significantly improves the welfare of all …

The sensitivity of housing demand to mortgage rates and available leverage is key to understanding the effect of …