a housing supply function for private sector has been estimated for the period of 1985-1999. the model was specified, using lucas supply theory and by including internal adjustment costs in producer's decision f or production or inv estment. the distin ctive feature of this model is the utilization. of investment role in housing sector similar to other factors in production function. the r...

This study uses data from 99 Chinese cities covering the decade from 2000 to 2010 to look at factors that drive urban development in China. There are data available to test standard measures of development like housing price. However, there are fundamental problems with doing so due to a Chinese housing market shaped by factors like planned construction with waiting lists, housing as the best a...

cycles fluctuations in housing investment and national economy, variation in consumers and producers behavior, deviation in allocation of economic resources, the aggravation of capital transfer in asset market, the variation of income distribution pattern and imbalance in resource and expenses are the consequences of fluctuations in housing prices. these consequences and its control and recogni...

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...

In recent years, the United States, like many other industrialized nations, has experienced wide swings in the growth rate of housing prices. Understanding these price changes is important for a number of reasons. Housing serves as a major source of individual wealth. Hence, changes in its value may influence consumer spending and saving decisions, in turn, affecting overall economic activity. ...