Housing Demand In The Short Run

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Shortrun Response of Housing Markets to Demand Shifts

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Author : C. Peter Rydell
Publisher : RAND Corporation
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.3/5 (2 download)

Book Synopsis Shortrun Response of Housing Markets to Demand Shifts by : C. Peter Rydell

Download or read book Shortrun Response of Housing Markets to Demand Shifts written by C. Peter Rydell and published by RAND Corporation. This book was released on 1979 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents a theory of short-run market adjustments to exogenous demand shifts that is consistent with evidence from the Housing Assistance Supply Experiment (HASE). It is argued that (1) a 1.0 percent shift in rental demand leads to a rent change of only 0.26 percent, whereas capital value can change as much as 5.0 percent; and (2) landlords derive capital value in a tightening market primarily from decreased vacancy loss (because of monopolistic competition among themselves) rather than from increased nominal rent. Using HASE data, the theory predicts that a housing allowance program would cause short-run rent increases of 0.6 to 1.0 percent and capital value increases of 1.6 to 6.5 percent, depending on the size and duration of allowance-induced demand shifts.

Hot Property

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Author : Rob Nijskens
Publisher : Springer
ISBN 13 : 3030116743
Total Pages : 220 pages
Book Rating : 4.0/5 (31 download)

Book Synopsis Hot Property by : Rob Nijskens

Download or read book Hot Property written by Rob Nijskens and published by Springer. This book was released on 2019-06-14 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house prices to soar and increases the pressure on rental markets. These developments are posing major challenges for policymakers, central banks and other authorities responsible for ensuring financial stability, and economic well-being in general.This volume collects views from high-level policymakers and researchers, providing essential insights into these challenges, their impact on society, the economy and financial stability, and possible policy responses. The respective chapters address issues such as the popularity of cities, the question of a credit-fueled housing bubble, the role of housing supply frictions and potential policy solutions. Given its scope, the book offers a revealing read and valuable guide for everyone involved in practical policymaking for housing markets, mortgage credit and financial stability.

The Housing Boom and Bust

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Author : Thomas Sowell
Publisher : Basic Books (AZ)
ISBN 13 : 0465018807
Total Pages : 194 pages
Book Rating : 4.4/5 (65 download)

Book Synopsis The Housing Boom and Bust by : Thomas Sowell

Download or read book The Housing Boom and Bust written by Thomas Sowell and published by Basic Books (AZ). This book was released on 2009-05-12 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.

Housing and Mortgage Markets in Historical Perspective

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Author : Eugene N. White
Publisher : University of Chicago Press
ISBN 13 : 022609328X
Total Pages : 408 pages
Book Rating : 4.2/5 (26 download)

Book Synopsis Housing and Mortgage Markets in Historical Perspective by : Eugene N. White

Download or read book Housing and Mortgage Markets in Historical Perspective written by Eugene N. White and published by University of Chicago Press. This book was released on 2014-10-17 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: The central role of the housing market in the recent recession raised a series of questions about similar episodes throughout economic history. Were the underlying causes of housing and mortgage crises the same in earlier episodes? Has the onset and spread of crises changed over time? How have previous policy interventions either damaged or improved long-run market performance and stability? This volume begins to answer these questions, providing a much-needed context for understanding recent events by examining how historical housing and mortgage markets worked—and how they sometimes failed. Renowned economic historians Eugene N. White, Kenneth Snowden, and Price Fishback survey the foundational research on housing crises, comparing that of the 1930s to that of the early 2000s in order to authoritatively identify what contributed to each crisis. Later chapters explore notable historical experiences with mortgage securitization and the role that federal policy played in the surge in home ownership between 1940 and 1960. By providing a broad historical overview of housing and mortgage markets, the volume offers valuable new insights to inform future policy debates.

Housing Demand in the Short Run

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Author : John M. Quigley
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (726 download)

Book Synopsis Housing Demand in the Short Run by : John M. Quigley

Download or read book Housing Demand in the Short Run written by John M. Quigley and published by . This book was released on 1973* with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Demand for Durable Goods

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Author : Arnold C. Harberger
Publisher :
ISBN 13 :
Total Pages : 282 pages
Book Rating : 4.:/5 (319 download)

Book Synopsis The Demand for Durable Goods by : Arnold C. Harberger

Download or read book The Demand for Durable Goods written by Arnold C. Harberger and published by . This book was released on 1960 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: A publication of the Research Group in Public Finance.

Modelling Spatial Housing Markets

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Author : Geoffrey Meen
Publisher : Springer Science & Business Media
ISBN 13 : 1461516730
Total Pages : 279 pages
Book Rating : 4.4/5 (615 download)

Book Synopsis Modelling Spatial Housing Markets by : Geoffrey Meen

Download or read book Modelling Spatial Housing Markets written by Geoffrey Meen and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: Spatial fixity is one of the characteristics that distinguishes housing from most other goods and services in the economy. In general, housing cannot be moved from one part of the country to another in response to shortages or excesses in particular areas. The modelling of housing markets and the interlinkages between markets at different spatial levels - international, national, regional and urban - are the main themes of this book. A second major theme is disaggregation, not only in terms of space, but also between households. The book argues that aggregate time-series models of housing markets of the type widely used in Britain and also in other countries in the past have become less relevant in a world of increasing income dispersion. Typically, aggregate relationships will break down, except under special conditions. We can no longer assume that traditional location or tenure patterns, for example, will continue in the future. The book has four main components. First, it discusses trends in housing markets both internationally and within nations. Second, the book develops theoretical housing models at each spatial scale, starting with national models, moving down to the regional level and, then, to urban models. Third, the book provides empirical estimates of the models and, finally, the models are used for policy analysis. Analysis ranges over a wide variety of topics, including explanations for differing international house price trends, the causes of housing cycles, the role of credit markets, regional housing market interactions and the role of housing in urban/suburban population drift.

Fundamental Drivers of House Prices in Advanced Economies

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Author : Ms.Nan Geng
Publisher : International Monetary Fund
ISBN 13 : 1484367626
Total Pages : 24 pages
Book Rating : 4.4/5 (843 download)

Book Synopsis Fundamental Drivers of House Prices in Advanced Economies by : Ms.Nan Geng

Download or read book Fundamental Drivers of House Prices in Advanced Economies written by Ms.Nan Geng and published by International Monetary Fund. This book was released on 2018-07-13 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: House prices in many advanced economies have risen substantially in recent decades. But experience indicates that housing prices can diverge from their long-run equilibrium or sustainable levels, potentially followed by adjustments that impact macroeconomic and financial stability. Therefore there is a need to monitor house prices and assess whether they are sustainable. This paper focuses on fundamentals expected to drive long run trends in house prices, including institutional and structural factors. The scale of potential valuation gaps is gauged on the basis of a cross-country panel analysis of house prices in 20 OECD countries.

The Economics of Housing Markets

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Author : Richard F. Muth
Publisher : Psychology Press
ISBN 13 : 9780415269742
Total Pages : 168 pages
Book Rating : 4.2/5 (697 download)

Book Synopsis The Economics of Housing Markets by : Richard F. Muth

Download or read book The Economics of Housing Markets written by Richard F. Muth and published by Psychology Press. This book was released on 2001 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: A state of the art overview of theoretical and empirical aspects of housing market research.

Housing Economics

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Author : George Fallis
Publisher : Butterworth-Heinemann
ISBN 13 : 1483192563
Total Pages : 250 pages
Book Rating : 4.4/5 (831 download)

Book Synopsis Housing Economics by : George Fallis

Download or read book Housing Economics written by George Fallis and published by Butterworth-Heinemann. This book was released on 2014-05-12 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: Housing Economics provides information pertinent to the fundamental aspects of housing economics. This book discusses the economic theory of how households make housing choices, how suppliers make decisions, and how changes in exogenous variables alter the market outcome. Organized into 10 chapters, this book begins with an overview of the nature of housing economics and explains why the standard microeconomic models need to be modified. This text then examines the demand side of the housing market. Other chapters provide an economic analysis of the supply side of the housing market. This book discusses as well the housing market models as they arise in a more macroeconomic context. The final chapter deals with the effects of different housing programs on consumers, producers, and the market equilibrium. This book is a valuable resource for undergraduate students of economics. Planners, urban geographers, policy analysts, and civil servants will also find this book useful.

A Short-term Forecast of the Housing Market, Jacksonville, Florida

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Author : Reinhold Paul Wolff
Publisher :
ISBN 13 :
Total Pages : 80 pages
Book Rating : 4.:/5 ( download)

Book Synopsis A Short-term Forecast of the Housing Market, Jacksonville, Florida by : Reinhold Paul Wolff

Download or read book A Short-term Forecast of the Housing Market, Jacksonville, Florida written by Reinhold Paul Wolff and published by . This book was released on 1953 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Fundamental and Speculative Demands for Housing

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Author : Weicheng Lian
Publisher : International Monetary Fund
ISBN 13 : 1498302726
Total Pages : 54 pages
Book Rating : 4.4/5 (983 download)

Book Synopsis Fundamental and Speculative Demands for Housing by : Weicheng Lian

Download or read book Fundamental and Speculative Demands for Housing written by Weicheng Lian and published by International Monetary Fund. This book was released on 2019-03-19 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper separates the roles of demand for housing services and belief about future house prices in a house price cycle, by utilizing a feature of user-cost-of-housing that it is sensitive to demand for housing services only. Optimality conditions of producing housing services determine user-cost-of-housing and the elasticity of substitution between land and structures in producing housing services. I find that the impact of demand for housing services on house prices is amplified by a small elasticity of substitution, and demand explained four fifths of the U.S. house price boom in the 2000s.

Understanding Affordability

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Author : Geoffrey Meen
Publisher : Policy Press
ISBN 13 : 1529211883
Total Pages : 338 pages
Book Rating : 4.5/5 (292 download)

Book Synopsis Understanding Affordability by : Geoffrey Meen

Download or read book Understanding Affordability written by Geoffrey Meen and published by Policy Press. This book was released on 2020-07-08 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many younger and lower-income people, housing affordability continues to worsen. Based on the academic research of two distinguished housing economists – and stimulated by working with governments across the world - this wide-ranging book sets out clear theoretical and empirical frameworks to tackle one of today’s most important socio-economic issues. Housing unaffordability arises from complex forces and a prerequisite to effective policy is understanding the causes of rising house prices and rents and the interactions between housing, housing finance and the macroeconomy. The authors challenge many of the conventional wisdoms in housing policy and offer innovative recommendations to improve affordability.

The Determinants of Housing Demand

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Author : Eric Alan Hanushek
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (3 download)

Book Synopsis The Determinants of Housing Demand by : Eric Alan Hanushek

Download or read book The Determinants of Housing Demand written by Eric Alan Hanushek and published by . This book was released on 1982 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Shortrun Response of Housing Markets to Demand Shifts

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Author : Rand Corporation
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (632 download)

Book Synopsis Shortrun Response of Housing Markets to Demand Shifts by : Rand Corporation

Download or read book Shortrun Response of Housing Markets to Demand Shifts written by Rand Corporation and published by . This book was released on 1976 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Housing and the Monetary Transmission Mechanism

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Author : Frederic S. Mishkin
Publisher :
ISBN 13 :
Total Pages : 70 pages
Book Rating : 4.0/5 ( download)

Book Synopsis Housing and the Monetary Transmission Mechanism by : Frederic S. Mishkin

Download or read book Housing and the Monetary Transmission Mechanism written by Frederic S. Mishkin and published by . This book was released on 2007 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: The housing market is of central concern to monetary policy makers. To achieve the dual goals of price stability and maximum sustainable employment, monetary policy makers must understand the role that housing plays in the monetary transmission mechanism if they are to set policy instruments appropriately. In this paper, I examine what we know about the role of housing in the monetary transmission mechanism and then explore the implications of this knowledge for the conduct of monetary policy. I begin with a theoretical and empirical review of the main housing-related channels of the transmission mechanism. These channels include the ways interest rates directly influence the user cost of housing capital, expectations of future house-price movements, and housing supply; and indirectly influence the real economy through standard wealth effects from house prices, balance sheet, credit-channel effects on consumer spending, and balance sheet, credit-channel effects on housing demand. I then consider the interaction of financial stability with the monetary transmission mechanism, and discuss the ways in which the housing sector might be a source of financial instability, and whether such instability could affect the ability of a central bank to stabilize the overall macroeconomy. I conclude with a discussion of two key policy issues. First, how can monetary policy makers deal with the uncertainty with regard to housing-related monetary transmission mechanisms? And second, how can monetary policy best respond to fluctuations in asset prices, especially house prices, and to possible asset-price bubbles?

Principles of Microeconomics

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Author : N. Gregory Mankiw
Publisher : Elsevier
ISBN 13 : 9780030245022
Total Pages : 532 pages
Book Rating : 4.2/5 (45 download)

Book Synopsis Principles of Microeconomics by : N. Gregory Mankiw

Download or read book Principles of Microeconomics written by N. Gregory Mankiw and published by Elsevier. This book was released on 1998 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: