supply shock is similarly strong in locations experiencing growing housing demand. Moreover, it affects the entire rent …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 …

This paper defines a measure of net housing demand or supply which allows the calculation of a long, high frequency … implies a net oversupply. Supply is defined as the available dwelling stock. Demand is calculated from the long term trend in … series is easily and inexpensively replicable. We formulate this measure as excess demand. A negative excess demand figure …

cities. City-level differences in housing demand are also correlated with supply elasticity. Controlling for industry, I … 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 theory, price effects were stronger in housing-supply inelastic …

during busts. The standard model of housing demand treats housing as a quantity of "housing services", an imaginary …

to $65,000. Increasing the supply of affordable housing by 10%  significantly improves the welfare of all …

In spite of a growing recognition of the importance of supply conditions for the level and volatility of house prices …, empirical work on housing supply outside the US is scarce. This paper considers various measures of housing supply in the …

has been weak. Using data for 254 US metropolitan areas, we show that housing supply elasticities have fallen markedly in … recent recovery than the previous boom. At the same time, building permits respond less. Finally, we find that housing supply …