Wohnen wird – zumindest in einigen Städten – zum Luxusgut, bezahlbarer Wohnraum zur Mangelware. Die Wohnungsbaupolitik muss drastisch verändert werden. Sollte der soziale Wohnungsbau ausgebaut, die Mietpreisbremse verschärft werden oder – im Gegenteil – auf beides weitgehend...

Wie überall in Deutschland zieht es auch in Sachsen die Bevölkerung in die Städte. Entsprechend steigen die Kaufpreise für Wohnimmobilien – auch im näheren Umland zu den Großstädten. Allerdings ist die Wohnkostenbelastung in Sachsen im Vergleich zu anderen Regionen Deutschlands immer...

We estimate empirically the effect of immigration on house prices and residential construction activity in Spain over the period 1998-2008. This decade is characterized by both a spectacular housing market boom and a stunning immigration wave. We exploit the variation in immigration across...

The paper analyses the development of the East German housing market after the reunification of the former German Democratic Republic and the Federal Republic of Germany in 1990. We analyse the dynamics of the East German housing market within the framework of the wellknown stockflow model,...

This paper studies the determinants of house prices in eight transition economies of central and eastern Europe (CEE) and 19 OECD countries. The main question addressed is whether the conventional fundamental determinants of house prices, such as GDP per capita, real interest rates, housing...

We estimate empirically the effect of immigration on house prices and residential construction activity in Spain over the period 1998-2008. This decade is characterized by both a spectacular housing market boom and a stunning immigration wave. We exploit the variation in immigration across...

The paper analyses the development of the East German housing market after the reunification of the former German Democratic Republic and the Federal Republic of Germany in 1990. We analyse the dynamics of the East German housing market within the framework of the wellknown stockflow model,...

This paper provides a model for the well-known empirical phenomenon that houses of different quality experience different price developments. The typical pattern is that luxury houses appreciate more in boom periods and depreciate more during busts. The standard model of housing demand treats...

With regard to the recent US house price cycle, we analyze how the interaction between housing supply restrictions, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan Statistical Areas, we estimate a simultaneous boom-bust...