system. The consequences of this setting, which make housing supply extremely unresponsive to changes in house prices, are a …, because increasing demand only pushes up house prices further without expanding housing supply. Fiscal decentralization and a …-to-Buy are doomed to fail in markets with tight regulation or otherwise tight supply. …

With regard to the recent US house price cycle, we analyze how the interaction between housing supply restrictions … Statistical Areas, we estimate a simultaneous boom-bust system for house prices, housing supply and subprime lending. The model … accounts for regional differences in supply elasticities that are determined by local variations in topographical and …

Neighborhoods are the result of a complicated interplay between residential choice, housing supply and the influences …

the CRA, however, do not show any change in their mortgage supply between these two types of census tracts after 1998. I … take advantage of this exogenous shift in mortgage supply within an instrumental variable framework to identify the causal … effect of mortgage supply on housing prices. I find that every 1 percentage point higher annual growth rate of mortgage …

the CRA, however, do not show any change in their mortgage supply between these two types of census tracts after 1998. I … take advantage of this exogenous shift in mortgage supply within an instrumental variable framework to identify the causal … effect of mortgage supply on housing prices. I find that every 1 percentage point higher annual growth rate of mortgage …

in mortgage supply of regulated banks. Consequently, these census tracts experienced a worse housing bust. I find that …

in mortgage supply of regulated banks. Consequently, these census tracts experienced a worse housing bust. I find that …