Which housing characteristics are important for understanding homeownership rates? How are housing characteristics priced in the rental and owner-occupied markets? And what can the answers to the previous questions tell us about economic theories of homeownership? Using the English Housing...

The study estimates the housing supply elasticity and the impact of geographic constraints in Germany from 2008-2019 using the Bartik instrument. The results show that the housing supply is, on average, inelastic, with a floorspace elasticity of 0.22 and a units elasticity of 0.25. The study...

Understanding the impact of housing supply on housing price inflation is a particularly important issue from a policy-maker's perspective. Notwithstanding the impact of the great financial crisis (GFC) in 2007/08, the past 25 years has seen a significant increase in housing prices across a...

We empirically document that the effectiveness of the German rent control introduced in 2015 in achieving rental housing affordability is limited. Exploring the reasons for this limited effectiveness we focus on the impact of the rent control on the yield on rental housing investments proxied by...

I estimate the impact of new housing supply on the local rent distribution, exploiting delays in housing completions caused by weather shocks during the construction phase. Increasing the flow of new supply by 1 percent lowers average rents by 0.2 percent, and increases disproportionately the...

This paper studies whether the rise of environmental parties during the last few decades can provide an explanation for reduced housing supply. Specifically, we examine the impact of Green Party presence on short-term housing supply in Bavarian municipalities from 1987 to 2019. Using a set of...

Tall buildings are central to facilitating sustainable urbanization and growth in cities worldwide. We estimate average elasticities of city population and built area to aggregate city building heights of 0.12 and -0.17, respectively, indicating that the largest global cities in developing...

Boston's high housing costs reflect a historic failure to build enough units to satisfy demand. Interest rates and construction costs have risen recently, and the flow of new market-rate residential housing projects has slowed. To spur more construction, the City of Boston is considering various...

We present a modified open monocentric city model that assumes that land is available for conversion into new housing throughout the city. The model predicts that positive local income shocks (i) increase the city's share of multi-family housing in new construction and (ii) lead to the...

We combine a standard stock-flow housing market model, incorporating explicit relationships between house prices, the housing stock, and the rent level, with a parsimonious expectation formation scheme of housing market investors, reflecting an evolving mix of extrapolative and regressive...