This paper proposes a model in which house prices are determined by housing affordability in the short run, while being determined by acquisition costs in the long run. Housing affordability is, in turn, determined by nominal income and nominal mortgage payments. The model explains the recent housing market run-up by lower housing repayment, decreasing nominal interest rates, and a large inflow...

The critical housing shortage in cities of the developing countries like Cameroon generates an ever-growing desire to increase housing supply. The main group of actors in this domain are by and large the formal sector, while the informal sector is still inactive. Because of the legalities and costs associated with the formalities surrounding the provision of formal housing, the majority of urba...

Micro data over the life cycle shows different patterns of consumption for housing and non-housing goods: the consumption profile of non-housing goods is hump-shaped while the consumption profile for housing first increases monotonically and then flattens out. These patterns hold true at each consumption quartile. This paper develops a quantitative, dynamic general equilibrium model of life-cyc...

In the U.S., macroeconomic policy makers are concerned about how consumers will respond to falling incomes, nominal home prices, falling income, rising mortgage interest rates and tightening credit standards. In order to address these questions, we estimate and simulate a dynamic structural model of housing demand. In the model, consumers maximize expected discounted lifetime utility from housi...

• Refurbishment of social housing can deliver significant improvements in energy, environmental and health performance, which can lead to costs savings and improved living standards for residents. • Refurbishments can have lower overall lifetime costs than demolition and construction and can cause less disruption to communities and residents. • Engaging residents in regeneration decisions is cr...

We investigate the dynamic effects of interregional labor market integration on migration flows, capital formation, and the price for housing services. The co-evolution of these variables depends on initial conditions at the time of labor market integration. In an initially capital-poor economy, there may be a reversal of migration flows during the transition to the steady state, while housing ...

Mortgage markets are coming of age in a number of Eastern Europe and CIS countries. As they do, governments are looking to mortgage-loan associated subsidy schemes to respond to the popular demand for improved housing. This paper presents a detailed examination of the impact of two types of subsidy schemes—mortgage interest rate write-downs, both universal and income-targeted, and income-target...

Few studies of associations between housing and health have focused on housing insecurity and health risk behaviors and outcomes. We measured the association between housing insecurity and selected health risk behaviors and outcomes, adjusted for socioeconomic measures, among 8,415 respondents to the 2011 Washington State Behavioral Risk Factor Surveillance System. Housing insecure respondents ...

This study examines the fiscal impact of new housing on California governments. Specifically, we looked at both one-time and new ongoing revenues and expenditures at the city, county, and state levels. We estimated costs and revenues using an average, per-household-based approach in which the total costs or revenues associated with current residents were divided by the number of current househo...