just like any other economic field, housing market has two basic foundations which are demand and supply. its obvious that disequilibrum between these foundations, will drasticaly affect the housing affordability and can also lead to wide slump in many markets. that’s why, policy makers usually intend to stimulat the supply by means of providing low intrest loans, low priced land, etc. in this ...

How have house prices evolved over the long run? This paper presents annual house prices for 14 advanced economies since 1870. We show that real house prices stayed constant from the 19th to the mid-20th century, but rose strongly and with substantial crosscountry variation in the second half of the 20th century. Land prices, not replacement costs, are the key to understanding the trajectory of...

This paper examines downward price rigidity in Iranian house market and discusses whether this characteristic would result in an asymmetric relationship between house price and monetary policy. To test the downward house price rigidity the threshold GARCH model is employed. The asymmetric adjustment to monetary policy is examined using the asymmetric cointegration and error correction models. T...

How Do Stamp Duties Affect the Housing Market? Land transfer taxes are a substantial portion of the cost of moving house in many developed countries. Since stamp duties are endogenous with respect to the house price, we create an instrumental variable that is the stamp duty on a property, given that postcode’s starting house price and the national house price trend. In a specification with post...

Feng shui is the scientific knowledge of Chinese ancient. In Taiwan, though some people thought that feng shui is the superstition, we can see the influence on the people's lives including of choosing good days, divination and house selecting. From the past researches, we know many factors affect the real estate price. Those factors are the announced land values, the building room age, building...

This study focuses on explaining variations in real constant-quality house prices in jurisdictions located in multiple MSAs. Using a hedonic house price framework, we test competing theories of house price determination. Using two variants of the random coefficients model, we find that public school quality has a very large impact on real constant-quality house prices. Our results suggest that ...

• Recent years have seen higher house prices, greater house price volatility and worsening affordability. Housing output has been low, even in the boom. • There is resistance to top-down targets at the local level. Local hostility to new development is often driven by fears that adequate roads, schools and other services will not be provided. • Land supply is heavily constrained and available l...