of housing demand. Our model generalizes previous applied econometric work by incorporating realistic features of the … for capturing salient features of housing demand observed in the PSID. After estimating the model we use it to simulate …

of housing demand. Our model generalizes previous applied econometric work by incorporating realistic features of the … for capturing salient features of housing demand observed in the PSID. After estimating the model we use it to simulate …

explicitly models the relationship between changes in house prices and various measures of housing supply. The results show that … months supply of new homes places greater downward pressure on house prices that the months supply of existing homes. We …