In recent years, in many parts of England and France a mismatch between housing supply and demand has resulted in an increasing number of neighbourhoods experiencing problems of empty properties, depressed house-prices and high stock turnover. This paper looks at the response of policy makers and social housing landlords in the two countries to this phenomenon, which in England has been referre...

We use a simple economy with two interconnected geographical zones. Individuals can live and work in one of the two zones or can commute between them. This model is used to explore the dynamics of housing and work decisions after a permanent shock in labour demand occurred in one of the two zones. We illustrate the role of the different levels of expectation of developers and government transpo...

Using a calibrated OLG model with several sources of uncertainty we find that the impact of ageing and of reform of social security upon the demand for housing and the level of owner occupation is substantial. The overall structure of household asset holdings in particular the split between real and financial assets is sensitive to demographics and to the generosity of state run, pay-as-yougo p...

selection of best demand model for explaining of consumer behaviour is one of the most important issues in microeconomic. in this paper we introduce aids[1],cbs[2], nbr[3] and rotterdam model and estimate these models by iranian urban households data for period 1973-2012.seemingly unrelated regression method is chosen for estimation of 5 groups of commodities including food, housing, clothing, ...

This paper demonstrates how formal housing ® nance is the product of the perceptions that prevail among the middle and upper classes, who as policy-makers, econom ists and managers, determ ine how housing ® nance institutions ® x the terms and conditions of housing loans for the urban poor. They use affordability criteria that ® t the purchase or construction of a house in one go. However, affo...

The rapid rate of China’s urbanization in recent years arises greater demand of houses. To ease the housing shortage, Chinese authority has been building or collecting a large amount of public housing. However, as the large-scale construction of public housing has been promoted, an increasing number of people focus their eyes on the equitable distribution of these houses. This paper aims to est...

Theory predicts that the effects of search frictions on house prices from temporary movements in demand should be temporary, while the data suggests it is permanent. The latter implies that movements in demand coupled with search frictions create higher volatility in prices than theory would predict, amplifying price changes, leading to bubbles and depressions. To generate permanent price chang...

We construct a quantitative equilibrium model of the housing market in which an unanticipated increase in the supply of housing triggers default mortgages via its e ect on house prices. The decline in house prices creates an incentive to increase the consumption of housing space, but leverage makes it costly for homeowners to sell their homes and buy bigger ones (they must absorb large capital ...