To the extent that monetary policy influences asset prices, it does so via the demand for assets, by changing the … borrowing costs to purchase assets, or via supply, where movements in interest rates can make investment in assets look more or … less attractive. Fiscal policy interventions can also contribute to bubbles by changing the cost of acquiring specific …

like population growth, and (b) differences in housing supply elasticity. Much of the metropolitan area demand shifts were … related to housing supply, because a lack of supply in some metropolitan areas caused families to migrate, increasing demand … sources of demand—loosening and then tightening of credit markets or trend-following speculative activity. Using a new …

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 …

Geographic patterns of housing growth in the United States result from the interaction of demand, density, and … shock or regulation, and housing supply curves will have an inverted S shape. Nonparametric estimation of housing supply … growth from 2012 to 2018 as a function of demand growth and density yields a residual growth surplus for each census tract …

estate bubble instead of mitigating it. The bubbles result from the interactions between housing developers who keep high … prices and households, who increase housing demand even if house prices rise.The housing developer, due to the asymmetry of … overestimates demand or the competition gets tougher, his production costs grow and the possibility to differentiate prices is …

estate bubble instead of mitigating it. The bubbles result from the interactions between housing developers who keep high … prices and households, who increase housing demand even if house prices rise. The housing developer, due to the asymmetry of … overestimates demand or the competition gets tougher, his production costs grow and the possibility to differentiate prices is …

has been weak. Using data for 254 US metropolitan areas, we show that housing supply elasticities have fallen markedly in … recent years. Housing supply elasticities have declined more in areas where land-use regulation has tightened the most, and … in areas that experienced the sharpest housing busts. A lowering of the housing supply elasticity implies a strengthened …

prices drive supply at short time horizons, permitting bubbles and oversupplies of housing to form … total market for housing irrespective of ownership status. The Beveridge Curve represents a long-run supply condition that … curve represent a measurement of oversupply. Using a years of supply metric, for the total housing market irrespective of …