Advertisement

Why Don't We Know More About Housing Supply?

  • Denise Dipasquale
Article

Abstract

This paper reviews the main themes in the empirical literature on housing supply and outlines suggestions for future research. Much of the literature has focused on the determinants of new housing supply, particularly the supply of single family detached homes, and the renovation and repair decisions of homeowners. We have learned a great deal from the work that has been done but many important puzzles remain. Much of the literature has focused on aggregate data because there is so little information where the unit of observation is the builder, investor, or landlord. We need to focus on bringing new data to bear on the decision-making processes of these important actors to build our understanding of the micro foundations of housing supply.

housing supply housing markets 

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. Baer, William B. (1986). ``The Shadow Market for Housing,'' Scientific American 255(5), November,29–35.Google Scholar
  2. Boehm, Thomas P., and Keith R. Ihlanfeldt. (1986). ``The Improvement Expenditures of Urban Homeowners: An Empirical Analysis,'' American Real Estate and Urban Economics Journal 14(1),48–60.Google Scholar
  3. Bogdon, Amy Sue. (1992). ``The Determinants of Homeowner Expenditures for Renovation, Alteration and Repair,'' Ph.D. dissertation, Harvard University.Google Scholar
  4. Capozza, Dennis R., and Robert W. Helsley. (1989). ``The Fundamentals of Land Prices and Urban Growth,'' Journal of Urban Economics 26(3),295–306.Google Scholar
  5. de Leeuw, F., and N. F. Ekanem. (1971). ``The Supply of Rental Housing,'' American Economic Review61, 806–817.Google Scholar
  6. DiPasquale, Denise, and William C. Wheaton. (1992). ``The Cost of Capital, Tax Reform and the Future of the Rental Housing Market,'' Journal of Urban Economics 31(3),337–359.Google Scholar
  7. DiPasquale, Denise, and William C. Wheaton. (1994). ``Housing Market Dynamics and the Future of Housing Prices,'' Journal of Urban Economics 35(1),1–27.Google Scholar
  8. DiPasquale, Denise, and William C. Wheaton. (1996). Urban Economics and Real Estate Markets. Englewood Cliffs, NJ: Prentice-Hall.Google Scholar
  9. Follain, James R. (1979). ``The Price Elasticity of the Long-Run Supply of New Housing Construction,'' Land Economics 55(2),190–199.Google Scholar
  10. Follain, James R., Donald R. Leavens, and Orawin T. Velz. (1993). ``Identifying the Effects of Tax Reform on Multifamily Rental Housing,'' Journal of Urban Economics34,275–298.Google Scholar
  11. Gyourko, Joseph, and Peter Linneman. (1990). ``Rent Controls and Rental Housing Quality: A Note on the Effects of New York City's Old Controls,'' Journal of Urban Economics27,398–409.Google Scholar
  12. Maisel, Sherman J. (1953). Housebuilding in Transition. Berkeley: University of California Press.Google Scholar
  13. Malpezzi, Stephen, and Duncan Maclennan. (1996). ``The Long-Run Price Elasticity of New Residential Construction in the United States and the United Kingdom,'' Working Paper, Department of Real Estate and Urban Land Economics, University of Wisconsin.Google Scholar
  14. Mayer, Chris B., and C. Tsuriel Somerville. (1996). ``Land Development and the Supply of New Housing: Unifying Empirical and Theoretical Models of Housing Supply,'' Working Paper, UBC Centre for Real Estate and Urban Economics.Google Scholar
  15. Mendelsohn, Robert. (1977). ``Empirical Evidence on Home Improvements,'' Journal of Urban Economics 4(4), 459–468.Google Scholar
  16. Montgomery, Claire. (1992). ``Explaining Home Improvement in the Context of Household Investment in Residential Housing,'' Journal of Urban Economics32,326–350.Google Scholar
  17. Murray, Michael P. (1983). ``Subsidized and Unsubsidized Housing Starts: 1961–1977,'' Review of Economics and Statistics 65(4),590–597.Google Scholar
  18. Muth, Richard. (1960). ``The Demand for Non-Farm Housing.'' In A.C. Harberger, ed., The Demand for Durable Goods. Chicago: University of Chicago Press.Google Scholar
  19. Ohls, James C. (1975). ``Public Policy Toward Low Income Housing and Filtering in Housing Markets,'' Journal of Urban Economics2,144–171.Google Scholar
  20. Olsen, Edgar. (1987). ``The Demand and Supply of Housing Service: A Critical Survey of the Empirical Literature,'' Handbook of Regional and Urban Economics, Vol. 2. New York: Elsevier.Google Scholar
  21. Ozanne, Larry, and Raymond J. Struyk. (1976). ``Housing from the Existing Stock: Comparative Economic Analyses of Owner-Occupants and Landlords,'' The Urban Institute (May).Google Scholar
  22. Potepan, Michael J. (1989). ``Interest Rates, Income, and Home Improvement Decisions,'' Journal of Urban Economics 25(3),282–294.Google Scholar
  23. Poterba, James M. (1984). ``Tax Subsidies to Owner Occupied Housing: An Asset Market Approach,'' Quarterly Journal of Economics 99(4), 729–52.Google Scholar
  24. Quigley, John M. (1979). ``What Have We Learned About Urban Housing Markets?'' In Peter Mieszkowski and Mahlon Straszheim, eds, Current Issues in Urban Economics (pp. 391–429). Baltimore: Johns Hopkins University Press.Google Scholar
  25. Rosenthal, Stuart S. (forthcoming). ``Residential Buildings and the Cost of Construction: New Evidence on the Efficiency of the Housing Market.'' Review of Economics and Statistics.Google Scholar
  26. Rydell, Peter C. (1982). ``Price Elasticities of Housing Supply,'' Rand Corporation, R-2846-HUD, September.Google Scholar
  27. Stover, Mark Edward. (1986). ``The Price Elasticity of the Supply of Single-Family Detached Urban Housing,'' Journal of Urban Economics 20(3),331–340.Google Scholar
  28. Swan, Craig. (1973). ``Housing Subsidies and Housing Starts,'' American Real Estate and Urban Economics Association Journal, 1(2), 119–140.Google Scholar
  29. Sweeney, James L. (1975). ``A Commodity Hierarchy Model of the Rental Housing Market,'' Journal of Urban Economics1,288–323.Google Scholar
  30. Topel, Robert, and Sherwin Rosen. (1988). ``Housing Investment in the United States,'' Journal of Political Economy 96(4),718–740.Google Scholar
  31. Weicher, John. (1990). ``The Voucher/Production Debate.'' In Denise DiPasquale and Langley C. Keyes, eds, Building Foundations: Housing and Federal Policy (ch. 10). Philadelphia: University of Pennsylvania Press.Google Scholar

Copyright information

© Kluwer Academic Publishers 1999

Authors and Affiliations

  • Denise Dipasquale
    • 1
  1. 1.City ResearchMA

Personalised recommendations