The homeownership rate was relatively stable for the few decades preceding 1995, followed by a large increase between 1995-2005 and a subsequent decline over the next ten years. We document the evolution of homeownership rate across various age groups for the period 1995-2015. Two interesting...

Today, the aims of inclusionary housing are converging with the new realities of both the workplace and consumer housing preferences. This century finds neither viable nor likely the prospect of having a life-long job at a blue-chip company and settling down in a nearby single-family home in an...

Rent-to-income ratios have risen over the past two decades with large increases at the bottom of the income distribution, prompting concern about a housing affordability crisis. This paper uses minimum wage changes as a natural experiment to study the relationship between housing demand &...

As an immobile, durable and heterogonous good, each housing unit has a bundle of different characteristics. Hedonic price method, which depends on the consumer theory of the classical economics, implies that each characteristic of heterogeneous goods provides a different level of satisfaction or...

Over the past two years, the cost of housing and community amenities has been growing at a moderate rate. Due to financial problems, one in every ten households delayed paying its bills, or paid them only in part. The volume of housing and community amenities payments in arrears remained the...

Housing taxation is an important policy instrument that shapes households' choices about homeownership and renting as well as the evolution of the housing market. We study the effects of housing taxation in a model with search and matching frictions in the property market and a competitive...

This paper provides a new explanation for regional variation in the 2000-2006 housing and consumption boom. Cities with 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...

Housing affordability has been a troubling issue for both developed and developing countries. Much of the prior literature has used the price-income ratio as the main standard to assess housing affordability, with the median disposable household income of the sample population commonly used. As...

This paper studies the effect of adding space to existing housing apartments on housing price and the probability that owners will sell their apartment (flat). This space adding is part of a large scale urban renewal and upgrading policy in Singapore, and is carried out only if sufficient...