The Price Elasticity of the Long-run Supply of New Housing Construction PDF Download
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Author: James R. Follain
Publisher:
ISBN:
Category : Housing
Languages : en
Pages : 16
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Author: James R. Follain
Publisher:
ISBN:
Category : Housing
Languages : en
Pages : 16
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Author: Dixie Marie Blackley
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The long-run price elasticity for alternative specifications of new housing supply is estimated using U.S. annual data for 1950 through 1994. The basic model expresses residential construction as a linear function of new housing price and the prices of construction inputs. Long-run elasticities range from 1.6 to 3.7, suggesting that new housing supply is price elastic. Residential construction responds to both the real interest and expected inflation rates, but other construction cost variables perform poorly. However, the results are sensitive to the time-series processes underlying the variables. A modified model that expresses residential construction as a function of changes in input prices, rather than their levels, produces a long- run elasticity of about 0.8 and a significant inverse relationship between new housing supply and the construction wage rate.
Author: Claire A. Montgomery
Publisher:
ISBN:
Category : Forest management
Languages : en
Pages : 48
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Author: C. Peter Rydell
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 84
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Book Description
Analyzes the price elasticity of the supply of rental housing services, defined as the percentage increase in supply associated with a one percent increase in price. The purpose of the report is to predict the price changes associated with supply responses to shifts in demand. Section II analyzes each component of supply response separately. It presents price elasticities for the repair, inventory, and occupancy responses to demand shifts. It reviews the literature on all three and offers new estimates for the second and third (the estimates are based on the analysis of Annual Housing Survey data from the U.S. Census Bureau reported in Appendix B). Section III combines the three individual supply elasticities into a composite elasticity. It accomplishes the integration using a model of housing-market responses to demand shifts presented in Appendix C. The model was built during the Housing Assistance Supply Experiment to explain the housing market's response to demand shifts caused by an experimental housing allowance program.
Author:
Publisher:
ISBN:
Category : Forests and forestry
Languages : en
Pages : 234
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Author:
Publisher: Elsevier
ISBN: 0080471714
Category : Social Science
Languages : en
Pages : 3870
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Book Description
Available online via SciVerse ScienceDirect, or in print for a limited time only, The International Encyclopedia of Housing and Home, Seven Volume Set is the first international reference work for housing scholars and professionals, that uses studies in economics and finance, psychology, social policy, sociology, anthropology, geography, architecture, law, and other disciplines to create an international portrait of housing in all its facets: from meanings of home at the microscale, to impacts on macro-economy. This comprehensive work is edited by distinguished housing expert Susan J. Smith, together with Marja Elsinga, Ong Seow Eng, Lorna Fox O'Mahony and Susan Wachter, and a multi-disciplinary editorial team of 20 world-class scholars in all. Working at the cutting edge of their subject, liaising with an expert editorial advisory board, and engaging with policy-makers and professionals, the editors have worked for almost five years to secure the quality, reach, relevance and coherence of this work. A broad and inclusive table of contents signals (or tesitifes to) detailed investigation of historical and theoretical material as well as in-depth analysis of current issues. This seven-volume set contains over 500 entries, listed alphabetically, but grouped into seven thematic sections including methods and approaches; economics and finance; environments; home and homelessness; institutions; policy; and welfare and well-being. Housing professionals, both academics and practitioners, will find The International Encyclopedia of Housing and Home useful for teaching, discovery, and research needs. International in scope, engaging with trends in every world region The editorial board and contributors are drawn from a wide constituency, collating expertise from academics, policy makers, professionals and practitioners, and from every key center for housing research Every entry stands alone on its merits and is accessed alphabetically, yet each is fully cross-referenced, and attached to one of seven thematic categories whose ‘wholes' far exceed the sum of their parts
Author: Colin Jones
Publisher: John Wiley & Sons
ISBN: 0470672331
Category : Law
Languages : en
Pages : 337
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Book Description
This timely book addresses key challenges faced by policy makers and the house-building industry in a post-credit crunch world. It examines the implications for households, the housing market, the economy, as well as for government's policy choices. Challenges of the Housing Economy: an international perspective brings together experts from around the world to examine recent housing market trends. The contributions reveal common long-term trends in housing markets worldwide. Despite differences in supply conditions and the role of planning, there is a trend toward rising house prices that has created significant barriers to home ownership for young households while increasing the wealth of older generations. The financial crisis had a differential impact on housing markets but in many countries where mortgage finance became severely constrained, house prices fell and there was a dramatic fall in housing construction. The falls in house prices in these countries have ostensibly improved affordability but the housing markets have been dominated by the lowering of loan to values applicable to new mortgages which has further raised the hurdles to potential first-time purchasers. At the same time as young households are increasingly rationed out of owner-occupation, public sector expenditure cut-backs in many countries result in limited new social housing. Instead, value for money imperatives will mean new funding models for affordable housing that require greater use of public-private partnerships. The private rented sector could potentially meet the demand for the new generation of long-term renters. However, there are doubts - in the UK at least - that this sector will be able to expand significantly or provide an appropriate type and standard of housing. This is an essential advanced text for students and researchers of land economy and land management; property and real estate; housing policy; and urban studies.
Author: Glen Bramley
Publisher: Psychology Press
ISBN: 9781857281620
Category : Architecture
Languages : en
Pages : 278
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Book Description
Planning, the market and private housebuilding" is a timely new book which analyzes key contemporary issues in the light of the latest research findings and trends in policy and practice. The relationship between land- use planning and the housebuilding industry in Britain has long been characterized by intense debate and conflicting priorities about land supply. The experience of the late 1980s and the early 1990s has made national policy-makers and economic analysts aware of the crucial importance of the housing market for the whole economy, and has once more put planning in the spotlight. At the same time, planning itself is undergoing significant changes, and has been given a new "mission" in terms of the environmental agenda, which may be in some tension with the needs of the housing economy. The artificial boundaries between housing and planning have also been broken down by recent developments linking planning and social housing and stressing the "enabling" role of housing authorities.; The authors are based in leading research and teaching centres for planning and housing, and they combine expertise in housing policy and finance, industrial economics and organization, and town & country planning. The book builds on several important local and national research studies undertaken for the Joseph Rowntree Foundation, but draws on a wider range of other work, literature and practice to give a rounded view of the field.; The book grapples directly with some of the biggest issues: How sluggish is the housebuilding industry in responding to demand? How much does planning affect house prices? What would happen if we scrapped the Green Belt? Do planning policies get implemented? Do planning agreements for affordable housing make sense? What would happen if mortgage interest tax relief were abolished? The book is aimed at interested lay readers, those involved professionally in the housing, development, and planning fields, and at students of planning, construction, housing, geography, economics, social policy and related disciplines. While centred on the experience of the UK the authors bring to bear their knowledge of comparative experience and research in a range of other countries including North America and Europe.; Glen Bramley, a specialist on housing and public finance, is a Reader in the School for Advanced Urban Studies SAUS at the University of Bristol; he was Deputy Director of SAUS for 1990--92. Will Bartlett is a Research Fellow at SAUS , having lectured in economics the the universities of Southampton, Bristol and Bath. Christine Lambert is a Senior Lecturer in the School of Town and Country Planning at the University of the West of England, Bristol, and she spacializes on planning and local government issues.
Author: Danny Myers
Publisher: Routledge
ISBN: 1317292774
Category : Architecture
Languages : en
Pages : 374
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Book Description
Construction Economics provides students with the principles underlying the relationship between economic theory and the construction industry. Its new approach specifically examines the problems of securing sustainable construction. The new edition has been fully revised to provide an overview of the economy and construction markets since the global financial crisis. As such it examines the challenges of changing government policy, adapting to climate change, adopting BIM, and reducing costs. A new introduction along with new readings, data, examples, glossary items, government strategies, and references, revises this established core text and brings it up to the historic EU referendum. As with previous editions, it retains a tried and tested format: a clear and user-friendly style use of a second colour for emphasis regular summaries of key points a glossary of construction economics extensive use of tables and figures extracts from Construction Management and Economics reviews of useful websites. This invaluable textbook is essential reading across a wide range of disciplines from construction management and civil engineering to architecture, property and surveying.
Author: Boyd E. Wickman
Publisher:
ISBN:
Category : Conifers
Languages : en
Pages : 662
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Book Description
