A major difficulty in implementing land/site value taxation is imputing the land value of builton sites. The literature has focussed on two alternatives. The first, residual site value, measures postdevelopment site value as property value less structure value, measured as depreciated...

Using transaction level data for dwellings in Paris, France over the period 1986-92, we find evidence consistent with the hypothesis that economic fundamentals constrain movements in Parisian dwelling prices over longer term horizons. The conclusion is based on the results of two different...

In this study, we present an analysis of the impacts of high tech economic growth on the incidence of critical housing problems among all households and among moderateincome working families in major metropolitan areas. We rely on data from the 1999 American Housing Survey, supplemented with...

Housing policies for low-income families may affect the concentration of poverty in America, which could in turn affect the ability of families receiving housing services to become economically self-sufficient. In this paper we examine the effects of a randomized housing- voucher experiment on...

Urban economics emphasizes: the spatial arrangements of households, firms, and capital in metropolitan areas; the externalities which arise from the proximity of households and land uses; and the public policy issues which arise from the interplay of these economic forces.

This paper reviews the evolution of the major credit and insurance programs undertaken by the U.S. government in support of urban housing. As the review makes clear, the Federal Housing Administration (FHA), Veterans Administration, Federal National Mortgage Association, and Federal Home Loan...

Mortgage terminations arise because borrowers exercise options. This paper investigates the apparently irrational behavior of those borrowers who do not terminate their mortgages even when the exercise value of the option is deeply in the money. We develop an option-based empirical model to...

Among the many sorting functions provided by institutions of higher education, there is a geographic dimension. During the years spent as students and residents of local communities, students develop specific networks and contacts, and perhaps their tastes change as well. After graduation, these...

This paper uses employment and output in high-tech industries, venture capital funding, and the number of dot-com firms per 1000 private workers, at the metropolitan level, to identify their contribution to differences in housing market outcomes. Housing prices in New Economy markets are found...