The housing price index and the number of housing units: a surprising co-movement in France

Bator Anne () and Hervé Blanchard ()
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Bator Anne: University of Perpignan Via Domitia
Hervé Blanchard: University of Perpignan Via Domitia

Economics Bulletin, 2024, vol. 44, issue 1, 490 - 499

Abstract: We examine the relationship between the evolution of the housing price index and the number of housing units from 1968 to 2015. Using a simultaneous equation framework, we find a positive relationship between housing supply and the housing price index. Our research suggests that there is an analogy between the Braess paradox and the housing problem. We find a positive income elasticity of demand as well as a positive price elasticity of demand that tends to zero.

Keywords: Braess paradox; housing market; simultaneous equations (search for similar items in EconPapers)
JEL-codes: R2 Y1 (search for similar items in EconPapers)
Date: 2024-03-30
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