Housing “Affordability” and Responses During Times of Stress: A Brief Global Review
Stephen Malpezzi ()
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Stephen Malpezzi: University of Wisconsin-Madison
No GRU_2021_011, GRU Working Paper Series from City University of Hong Kong, Department of Economics and Finance, Global Research Unit
This paper is based on a presentation to the City University of Hong Kong Workshop on “Postcrisis Housing Market and Financial Stability: Recovery Without Affordability?” held virtually on July 9, 2020, with revisions. That presentation and this paper are in turn based partly on several larger reviews of housing affordability, the coronavirus and its effects on housing and urban development, and potential shocks. Many colleagues have commented on and otherwise contributed to those efforts, including Brent Ambrose, Shlomo Angel, David Barker, Alain Bertaud, Julia Coronado, Morris Davis, Mike Eriksen, Eugene Flynn, Allen Goodman, Jacques Gordon, Richard Green, Marja Hoek, Harvey Jacobs, Kyung-Hwan Kim, Charles Ka Yui Leung, David Ling, Jaime Luque, Duncan Maclennan, Antonio Mello, Stani Milcheva, Norm Miller, Bertrand Renaud, Andy Reschovsky, Jenny Schuetz, Dale Whittington and Jiro Yoshido. Seminar participants at USC and Penn State as well as the participants in the City University of Hong Kong Workshop also provided useful suggestions. Naturally, none of these colleagues are responsible for the results.
Pages: 32 pages
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