While filtering has long been considered the primary mechanism by which markets supply lowincome housing, direct estimates of that process have been absent. This has contributed to doubts about the viability of markets and to misplaced policy. I fill this gap by estimating a “repeat income” model using 1985-2011 panel data. Real annual filtering rates are faster for rental housing (2.5 percent)...

At present, China's housing prices and structures have been severe distorted, which have been done serious harm on the development of national economy and people's lives, the government has implemented the most strictest macro-control. This paper applies the correlation and principal component analysis on the supply & demand of housing market. Aims to points out clear direction for the implemen...

Millions of Americans live in communities without an adequate supply of affordable housing. The governmental response to the crisis has focused on subsidies to private developers who build below–market housing, with the Low-Income Housing Tax Credit at the center of this effort. Although federally funded, the LIHTC program grants states wide latitude in distributing billions of dollars of tax c...

Portland, Oregon, is well known for its relatively unique urban growth boundary (UGB), a very tight form of zoning designed to control sprawl. The UGB has recently been criticized for raising housing prices. From a theoretical perspective, the UGB will put upward pressure on land and thus housing prices, but the magnitude of this effect is uncertain. Increasing density should substitute for hig...

We study the extent to which responses in urban redevelopment density to demand shocks contribute to population growth, taking into account urban land expansions independent of demand shocks and changes in housing absorption by existing urban households. In the context of Chinese urban growth from 1998 to 2004 when liberalization in urban housing and labor markets significantly elevated labor m...

The paper analyses the development of the East German housing market after the reunification of the former German Democratic Republic and the Federal Republic of Germany in 1990. We analyse the dynamics of the East German housing market within the framework of the well-known stock-flow model, proposed by DiPasquale and Wheaton. We show that the today observable disequilibrium to a large extend ...

This paper tests the efficiency of local provision of land conservation. I examine how housing prices, which capitalize open space amenities and future tax obligations, change after municipalities vote on referendums for conservation spending. Using a dynamic regression discontinuity based on voting outcomes, results suggest that average housing prices increase about 0.68-1.12% for every $1000 ...

In the residential housing market, home owners are reluctant to sell in a declining market. We build a model which focuses on the embedded call option associated with home ownership that allows owners to delay the (irreversible) sale. When prices are low, the (opportunity) cost of a sale, i.e., a higher implied gain from a future sale, likely exceeds its immediate trade benefit and an owner is ...