The Economic Implications of Housing Supply (Glaeser and Gyourko, 2018)
morehousing.substack.com
https://www.aeaweb.org/articles?id=10.1257/jep.32.1.3 How house prices are determined - especially in Vancouver - is something of a mystery to me, so I took the time to read through this US paper. Some particularly interesting points: In a city like Atlanta, where housing supply is pretty responsive, you see housing starts vary a lot (sometimes up, sometimes down), while house prices are stable. In a city like San Francisco, where housing supply is inelastic, what you see is that housing starts are stuck at a low level, while house prices can rise (and fall) rapidly. See Figure 2 above.
The Economic Implications of Housing Supply (Glaeser and Gyourko, 2018)
The Economic Implications of Housing Supply…
The Economic Implications of Housing Supply (Glaeser and Gyourko, 2018)
https://www.aeaweb.org/articles?id=10.1257/jep.32.1.3 How house prices are determined - especially in Vancouver - is something of a mystery to me, so I took the time to read through this US paper. Some particularly interesting points: In a city like Atlanta, where housing supply is pretty responsive, you see housing starts vary a lot (sometimes up, sometimes down), while house prices are stable. In a city like San Francisco, where housing supply is inelastic, what you see is that housing starts are stuck at a low level, while house prices can rise (and fall) rapidly. See Figure 2 above.