Is housing unaffordable? Why isn't it more affordable?
Article Abstract:
Housing is the single largest expenditure in the budget of most people and even a small percentage change in housing prices and rents have large impacts on nonhousing consumption. A study of various issues leading to housing affordability with respect to homeowners and renters in different income groups are discussed and policies and institutional arrangements to improve the affordability of housing for households are suggested.
Publication Name: Journal of Economic Perspectives
Subject: Economics
ISSN: 0895-3309
Year: 2004
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Assessing high house prices: bubbles, fundamentals and misperceptions
Article Abstract:
A method based on economic theory for appraising the state of house prices, including bubbles and parameters contributing to housing demand, is advanced and discussed. Four erroneous beliefs pertaining to the costliness of the housing market are rectified.
Publication Name: Journal of Economic Perspectives
Subject: Economics
ISSN: 0895-3309
Year: 2005
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Housing, credit constraints, and macro stability: the secondary mortgage market and reduced cyclicality of residential investment
Article Abstract:
Effects of secondary mortgage markets on residential investment volatility and economic development are presented.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 2006
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