Residential Land Use Regulation and the US Housing Price Cycle Between 2000 and 2009

Haifang Huang () and Yao Tang

No 2010-11, Working Papers from University of Alberta, Department of Economics

Abstract: In a sample covering more than 300 cities in the US between January 2000 and July 2009, we find that more restrictive residential land use regulations and geographic land constraints are linked to larger booms and busts in housing prices. The natural and man-made constraints also amplify price responses to an initial positive mortgage-credit supply shock, leading to greater price increases in the boom and subsequently bigger losses.

Keywords: residential land use regulation; credit expansion; housing prices (search for similar items in EconPapers)
JEL-codes: R30 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2010-07-07, Revised 2010-11-01
New Economics Papers: this item is included in nep-bec, nep-geo, nep-reg and nep-ure
References: View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Journal Article: Residential land use regulation and the US housing price cycle between 2000 and 2009 (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:ris:albaec:2010_011

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