House prices and long-term equilibrium in the regulated market of the Netherlands

Qi Tu, Jan de Haan and Peter Boelhouwer

Housing Studies, 2018, vol. 33, issue 3, 408-432

Abstract: This paper establishes a simple affordability model that implicitly incorporates the major Dutch market features to elucidate long-run house prices under a regulatory environment. The results reveal a long-run relationship for house prices under strict regulations. The association among house prices, income, interest rates, and inflation is verified using an aggregated dataset. In the long-run, incomes and interest rates function as the two prime forces driving price dynamics, whereas the role of inflation is limited.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:taf:chosxx:v:33:y:2018:i:3:p:408-432

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DOI: 10.1080/02673037.2017.1346786

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