Supply Constraints and Housing Prices

Saku Aura () and Thomas Davidoff

No 607, Working Papers from Department of Economics, University of Missouri

Abstract: This paper analyzes the effects of land use constraints on housing prices. We provide a new framework for evaluating policy when mobility across regions is allowed but limited. A key result is that loosening regulatory constraints within individual regions would have little effect on prices for plausible parameterizations. For example, we show reasonable conditions under which, even if every building in Manhattan were 100 stories tall, prices would fall by less than 15 percent.

Keywords: Housing Supply and Markets; Regulatory Policies; Land Use Patterns. (search for similar items in EconPapers)
JEL-codes: R21 R14 R38 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr, nep-geo and nep-ure
Date: 2006-05-22
View list of references

Downloads: (external link)
http://economics.missouri.edu/people/aura.shtml (application/pdf)
Our link check indicates that this URL is bad, the error code is: 403 Forbidden

Related works:
Working Paper: Supply Constraints and Housing Prices (2006)
Journal Article: Supply constraints and housing prices (2008)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:umc:wpaper:0607

Access Statistics for this paper

More papers in Working Papers from Department of Economics, University of Missouri
Contact information at EDIRC.
Series data maintained by Mark Stratton ().