The aim of exploring and monitoring housing-market fundamentals (prices, dwelling features, area density, residents, and so on) on a macrolocational level relates to both public and private sector policymaking. Housing market segmentation (that is, the emergence of housing submarkets), a concept with increasing relevance, is defined as the differentiation of housing in terms of the income and p...

Abstract: Resident’s housing consumption and investment behavior is an important micro basis of housing policies in China, and has an important influence on the development of real estate market and the structure of housing supply. In this article, I developed a dynamic optimization model base on utility maximization to simulate the housing behavior of Chinese resident during all his life, and ...

This paper studies the interaction between inequality and house prices using an incomplete market model with heterogeneous households. The model links cross-sectional household portfolio saving decisions to housing market outcomes. It illustrates a new price formation mechanism in which an investment motive among the wealthy plays a key role. A quantitative application of the theory rationalize...

The purpose of this paper is to develop a typology based on market orientation (MO) and innovation orientation (IO), and to illustrate to what extent housing companies in Sweden fit within this framework. A qualitative study on 11 public housing companies in the central part of Sweden has been conducted by the help of open and semi-structured questions for data collection. Four public housing c...

We construct a quantitative equilibrium model of the housing sector that accounts for the homeownership rate, the average foreclosure rate, and the distribution of home-equity ratios across homeowners prior to the recent boom and bust in the housing market. We analyze the key mechanisms that account for these facts, including the preferential tax treatment of housing and inflation. We then use ...

Coefficients of housing attributes in most hedonic specifications are held constant under the assumption that each attribute has one unique marginal price throughout the entire market area. However, there’s increasing evidence that the marginal prices of some key housing attributes do vary according to particular systematic patterns. In this paper, we employed expansion methods by incorporating...

A house purchase typically requires a deposit (or down-payment) and so a significant amount of cash. This paper considers the empirical implications of this borrowing constraint for the housing market. It shows that, at the aggregate level, models of the housing market that incorporate the constraint are consistent with the following stylised facts: i) a positive correlation between house price...