We investigate the sources, scope, and implications of landowner market power. We show how zoning regulations generate spillovers through increased markups and derive conditions under which restricting landownership concentration reduces rents. Using newbuilding-level data from New York City, we...

We analyze the welfare implications of property taxation. Using a sufficient statistics approach, we show that the tax incidence depends on how housing prices, labor and other types of incomes as well as public services respond to property tax changes. Empirically, we exploit the German...

We analyze the welfare implications of property taxation. Using a sufficient statistics approach, we show that the tax incidence depends on how housing prices, labor and other types of incomes as well as public services respond to property tax changes. Empirically, we exploit the German...

In this paper, we estimate credit demand for potential Irish first time buyer households currently living in the rental sector. Exploiting individual survey responses to credit demand questions, and characteristics of the household, we estimate the level of latent credit demand that could be...

The global financial crisis heralded a new era of macroprudential mortgage regulations such as loan-to-value and loan-to-income restrictions. Such measures safeguard the financial system but can lead to credit access difficulties, in particular for first-time buyers. In this paper, we examine...

This paper studies the impact of home purchase restrictions on China's housing market. We estimate a structural model of household preference for housing, real estate developers' pricing decisions, and equilibrium market outcome in five large cities. By comparing the estimation results from pre-...

Deutschlands Wohneigentumsquote ist im internationalen Vergleich niedrig - nicht einmal die Hälfte aller Haushalte lebt in den eigenen vier Wänden. Gerade Haushalte mit geringeren Einkommen bilden selten Immobilienvermögen, obwohl es seit rund 60 Jahren Sparprämien gibt, die an diese Gruppen...

This paper analyzes the effects of German homeownership subsidies on the intra-city rent structure. Using a large-scale micro data set on German rent offerings, I first construct novel city rent indexes that include various rings around cities' CBDs. Using triple differences (TD) frameworks, I...

In den Koalitionsverhandlungen wurde ein Paket für bezahlbares Bauen und Wohnen vereinbart. Das Paket enthält unter anderem eine Mietpreisbremse, deren Wirkung die Autoren insbesondere auf längere Sicht kritisch sehen. Sie fürchten, dass dadurch weniger Wohnungen angeboten werden und ein...

Am 1. Juni 2016 ist die viel diskutierte Mietpreisbremse ein Jahr in Kraft. Seither wurde sie in 308 Städten eingeführt. Die im Vorfeld geäußerten Befürchtungen, die dringend benötigte Bautätigkeit würde damit massiv ausgebremst, haben sich ebenso wenig bewahrheitet wie die Hoffnungen,...