This paper compares the performance of three alternative models in forecasting housing supply in the Irish Republic. The results highlight key behavioural issues in the dynamics of housing supply that the OLS and VAR models fail to adequately capture due to the inclusion of fundamental variables in their specification. The behaviour of developers in delaying projects means that housing supply c...

A coupled projection method combining formal modelling and other statistical techniques was developed to delineate the relationship between economic and social drivers for net new housing allocations. Using the example of employment growth in Tyne and Wear, UK, until 2016, the empirical analysis yields housing projections at the macro- and microspatial levels (e.g., region to subregion to elect...

Due to moving and transactions costs, most housing buyers do not routinely move in response to small changes in income or housing price. In this paper, the ‘‘own–rent,’’ ‘‘move– stay,’’ and length-of-stay decisions are modeled as multi-period optimization in the presence of transactions costs. The empirical section uses the American Housing Survey to provide a unique 12-year panel of household ...

The most significant and most expensive housing policy in the United States is the treatment of owner-occupied housing for tax purposes. This treatment of housing under the tax code is analogous to that in many other countries (for example, Sweden), but certainly not in all developed countries (for example, Canada). Federal subsidies to US renter households are much smaller. Policy has evolved ...

The correlation between stock and housing prices, which is critical for household asset allocations, varies widely by metropolitan area and country. A general equilibrium model demonstrates that an aggregate positive technology shock increases stock prices and housing demand but can decrease housing prices where land supply is elastic because stable future rents are discounted at higher interes...

Many older American cities lost population during the last three decades of the twentieth century, but while cities such as Boston or New York saw numbers of dwelling units remain stable or even increase, others such as Buffalo, St. Louis, Cleveland, Detroit, and Pittsburgh lost large fractions of their dwelling units. This study decomposes decadal population changes from 1970 through 2000 for ...

Despite HUD’s endorsement of transitional housing as an essential part of a comprehensive continuum of care, consumers, providers, and advocates have frequently disagreed on its value, on the best ways of linking services to housing, and on appropriate mechanisms and sources for funding transitional housing programs. Critics have emphasized the stigma associated with transitional programs as we...

Mortgage demand is a little understood and under researched aspect of the financial behaviour of households. This paper empirically tests the basic results of Brueckner’s model of mortgage demand (Brueckner, 1994) on United Kingdom mortgage market data. The choice of mortgage instrument is used to identify impatient debt maximisers and patient borrowers who borrow at intermediate levels. Thus t...

The purpose of this paper is to identify structural changes in the Korean housing market for evaluating the sustainability of the Korean housing market and to derive important implications to seek housing business strategies and public policies. Two time periods were analyzed: April 2001–December 2007 and January 2008–December 2014 to identify the impact after the global financial crisis of 200...