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Housing Economics
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Housing Economics

Five Volume Set
Edited by:


May 2011 | 1 976 pages | SAGE Publications Ltd

Access to adequate accommodation, at an appropriate price and location, is central to life chances and social participation. Housing is the single largest investment that many households make, and housing choices fundamentally affect the distribution of wealth, social mobility and intergenerational transfer. Recent events have demonstrated that volatility and instability in housing markets can have dramatic consequences for the wider economy and that governments have an important role to play in shaping how housing markets operate.

Housing Economics focuses upon contemporary developments and the cutting edge of research in the field although some reference to classic studies is also made. Part I considers core topics in the microeconomics of housing markets, such as the determinants of housing demand, tenure choice and housing market search behavior. Part II looks at the mechanisms for financing housing consumption. It considers the regulation and reform of the mortgage market. The second part of the volume considers house price dynamics, in particular attempts to understand whether housing markets can experience bubbles and, if so, what happens when such bubbles deflate. Part III recognizes the many ways in which housing markets are connected with other aspects of society and the economy and illustrates these important interconnections. Part IV addresses two distinct topics. First, it considers the varying role of government in the housing market: tax and subsidy; direct provision and regulation. Second, the volume includes a selection of papers that one, seek to step back from the analysis of specific housing market phenomenon and consider the way in which housing economists approach market analysis or two, illustrate the diversity of approaches to the economic analysis of housing.


 
VOLUME 1: UNDERSTANDING HOUSING MARKETS
Discrete Choice Modeling Of Urban Housing Markets: A Critical Review and Application

Judith Yates and Daniel Mackay
Surprise and Housing Tenure Decisions in Great Britain

John Ermisch and Pamela Di Salvo
Housing Market Segmentation

Allen Goodman and Thomas Thibodeau
Structural Change in a Local Urban Housing Market

Chris Jones, Chris Leishman and Craig Watkins
Estimating Equilibrium Housing Demand for 'Stayers'

Allen Goodman
Urban Housing Markets: Theory and Policy

Christine Whitehead
Contracting With Costly Tenants

Franz Hubert
The Relative Performance of Real Estate Marketing Platforms: MLS versus FSBOMadison.com

Igal Hendel, Aviv Nevo and François Ortalo-Magne
Loss Aversion and Seller Behaviour: Evidence from the Housing Market

David Genesove and Christopher Mayer
Mistake £37: The Effect of Previously Encountered Prices on Current Housing Demand

Uri Simonsohn and George Loewenstein
Markets and the Structure of the Housebuilding Industry: An International Perspective

Michael Ball
The Long-Run Price Elasticity of Supply of New Residential Construction in the United States and the United Kingdom

Stephen Malpezzi and Duncan Maclennan
Urban Growth and Housing Supply

Edward Glaeser, Joesph Gyourko and Raven Saks
 
VOLUME 2: HOUSING FINANCE
Asymmetries in Housing and Financial Market Institutions and EMU

Duncan Maclennan, John Muellbauer and Mark Stephens
Markets and Using Finance

Veronica Warnock and Francis Warnock
Mortgage Choice: What's the Point?

Richard Stanton and Nancy Wallace
Credit Scoring and Mortgage Securization: Implications for Mortgage Rates and Credit Availability

Andrea Heuson, Wayne Passmore and Roger Sparks
Just the Facts: An Initial Analysis of Subprime's Role in the Housing Crisis

Christopher Foote, Kristopher Gerardi and Paul Willen
Understanding the Subprime Mortgage Crisis

Yuliya Demyanyk and Otto Van Hemert
Mortgage Terminations, Heterogeneity and the Exercise of Mortgage Options

Yongheng Deng, John Quigley, and Robert van Order
Hedging Housing Risk

Peter Englund, Min Hwang and John Quigley
Owner-Occupied Housing as a Hedge Against Rent Risk

Todd Sinai and Nichola Souleles
Index Revision, House Price Risk and the Market for House Price Derivatives

Yongheng Deng and John Quigley
Moral Hazard in Home Equity Insurance

Robert Shiller and Allan Weiss
Comparing Wealth Effects: The Stock Market versus the Housing Market

Karl Case, John Quigley and Robert Shiller
House Prices, Money, Credit and the Macroeconomy

Charles Goodhart and Boris Hofmann
 
VOLUME 3: PRICE DYNAMICS, METHODOLOGICAL
Hedonic Pricing Models: A Selective and Applied Review

Stephen Malpezzi
Capitalising the Value of Free Schools: The Impact of Supply Characteristics and Uncertainty

Paul Cheshire and Stephen Sheppard
Housing Market Dynamics and the Future of Housing Prices

Denice Di Pasquale and William Wheaton
House Price Dynamics: A Survey of Theoretical and Empirical Issues

Man Cho
Booms and Busts in the UK Housing Market

John Muellbauer and Anthony Murphy
Is there a Bubble in the Housing Market?

Karl Case and Robert Shiller
Assessing High House Prices: Bubbles, Fundamentals and Misperceptions

Charles Himmelberg, Christopher Mayer and Todd Sinai
Housing Market Dynamics: On the Contribution of Income Shocks and Credit Constraints

François Ortalo-Magne and Sven Rady
Where are the Speculative Bubbles in US Housing Markets?

Allen Goodman and Thomas Thidobeau
The Story and the Model Done: An Evaluation of Mathematical Models of Rent Control

Hans Lind
Social Behaviour as a Basis for Modelling the Urban Housing Market: A Review

David Meen and Geoffrey Meen
Economics and Underdetermination: A Case Study of Urban Land and Housing Economics

Robert McMaster and Craig Watkins
A Random Walk Down Maple Lane? A Critique of Neoclassical Consumption Theory with Reference to Housing Wealth

Greg Hannsgen
 
VOLUME 4: HOUSING IN CONTEXT
Urban Spatial Structure

Alex Anas, Richard Arnott and Kenneth Small
Why Is Central Paris Rich And Downtown Detroit Poor? An Amenity-Based Theory

Jan Brueckner, Jaques-Francois Thisse and Yves Zenou
Urban Decline and Durable Housing

Edward Glaeser and Joseph Gyourko
The Welfare Economics of Land Use Planning

Paul Cheshire and Stephen Sheppard
Housing Prices, Externalities and Regulation in US Metropolitan Areas

Stephen Malpezzi
The Mechanisms of Spatial Mismatch

Laurent Gobillin, Harris Selod and Yves Zenou
On the Aggregate Housing Market Implications of Labour Market Change

Geofffrey Meen and Mark Andrew
The Nature of the Neighbourhood

Chris Webster
Incentives and Social Capital: Are Homeowners Better Citizens?

Denice Di Pasquale and Edward Glaeser
The Social and Private Microlevel Consequences of Homeownership

Robert Dietz and Donald Haurin
Does Homeownership Affect Child Outcomes?

Donald Haurin, Toby Parcel and Jean Haurin
Price Discrimination in the Housing Market

Keith Ihlanfeldt and Tom Mayock
Homeless in America, Homeless in California

John M Quigley, Steven Raphael, and Eugene Smolensky
 
VOLUME 5: GOVERNMENT, POLICY AND CONTEMPORARY DEVELOPMENTS
Taxing Residential Housing Capital

Peter Englund
Should Policy Makers Strive for Neighbourhood Social Mix? An Analysis of the Western European Evidence Base

George Galster
In Defence of Greater Agnosticism: A Response to Galster

Judith Yates and Christine Whitehead
The Misallocation of Housing Under Rent Control

Edward L Glaeser and Erzo Luttmer
A Review of Empirical Evidence on the Costs and Benefits of Rent Control

Bengt Turner and Stephen Malpezzi
Time for Revisionism on Rent Control?

Richard Arnott
Does Housing Assistance Perversely Affect Self-Sufficiency? A Review Essay

Mark Shroder
The Long-Run Decline in Employment Participation for Australian Public Housing Tenants: An Investigation

Gavin Wood, Rachel Ong and Alfred Dockery
The Future of Social Housing: Key Economic Questions

Duncan Maclennan and Alison More
Transfers, Contracts and Regulation: A New Institutional Economics Perspective on Changing Provision of Social Housing in Britain

Kenneth Gibb and Christian Nygaard
Modelling Choice in the Social Rented Sector: A Stated Preference Approach

Bruce Walker, Mark Wardman, Alex Marsh and Pat Niner
Comparing Demand Side and Supply-Side Housing Policies: Submarket and Spatial Perspectives

George Galster
Policies for Mixed Communities: Faith-Based Displacement Activity?

Paul Cheshire

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