in supply constraints and determinants of housing demand. Our empirical analysis shows that supply constraints play an …We study the importance of supply constraints in explaining the heterogeneity in house price cycles across geographies … in the United States. Comparing the equilibrium house price generated with and without supply constraints in a …

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 …

like population growth, and (b) differences in housing supply elasticity. Much of the metropolitan area demand shifts were … related to housing supply, because a lack of supply in some metropolitan areas caused families to migrate, increasing demand … sources of demand—loosening and then tightening of credit markets or trend-following speculative activity. Using a new …

This paper shows how Poterba, like many others, tries to use a non-existing demand and supply model to explain housing … price. Instead, this paper derives the housing demand and supply functions without combining them into one single graph. The …