Fundamental and Speculative Demands for Housing

Fundamental and Speculative Demands for Housing
This paper separates the roles of demand for housing services and belief about future house prices in a house price cycle, by utilizing a feature of user-cost-of-housing that it is sensitive to demand for housing services only. Optimality conditions of producing housing services determine user-cost-of-housing and the elasticity of substitution... READ MORE...

Publication date: March 2019
ISBN 9781498302722
$18.00

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