Housing Economics (eBook)

George Fallis (Autor)

eBook Download: PDF

2014 | 1. Auflage
250 Seiten
Elsevier Science (Verlag)
978-1-4831-9256-7 (ISBN)

Infos

Housing Economics provides information pertinent to the fundamental aspects of housing economics. This book discusses the economic theory of how households make housing choices, how suppliers make decisions, and how changes in exogenous variables alter the market outcome. Organized into 10 chapters, this book begins with an overview of the nature of housing economics and explains why the standard microeconomic models need to be modified. This text then examines the demand side of the housing market. Other chapters provide an economic analysis of the supply side of the housing market. This book discusses as well the housing market models as they arise in a more macroeconomic context. The final chapter deals with the effects of different housing programs on consumers, producers, and the market equilibrium. This book is a valuable resource for undergraduate students of economics. Planners, urban geographers, policy analysts, and civil servants will also find this book useful.

Inhalt

Front Cover 1
Housing Economics 4
Copyright Page 5
Table of Contents 6
Acknowledgements 8
Chapter 1. Introduction 10
HETEROGENEITY 14
DURABILITY 15
SPATIAL FIXITY 18
HOUSING STARTS 20
HOUSING CONDITIONS 23
THE PRICE OF HOUSING 25
MORTGAGES AND THE MORTGAGE MARKET 29
SUGGESTIONS FOR FURTHER READING 35
Chapter 2. The Demand for Housing 36
HOUSING AS A STANDARD COMMODITY 36
HOUSING AS A HETEROGENEOUS COMMODITY 43
TENURE CHOICE 46
HOUSING IN A SPATIAL CONTEXT 52
SUGGESTIONS FOR FURTHER READING 56
Chapter 3. The Supply of Housing 58
HOUSING AS A STANDARD COMMODITY: LONG-RUN SUPPLY 62
THE INVESTMENT DECISION 66
DURABLE HOUSING STOCK: SHORT- AND MEDIUM-RUN SUPPLY 68
HETEROGENEOUS HOUSING SUPPLY 73
SUPPLY IN A SPATIAL HOUSING MARKET 75
SUGGESTIONS FOR FURTHER READING 81
Chapter 4. Models of the Housing Market 82
HOUSING AS A STANDARD COMMODITY 82
HOUSING AS A HETEROGENEOUS COMMODITY: HEDONIC PRICE EQUATIONS 88
FILTERING IN HOUSING MARKETS 91
A SPATIAL HOUSING MARKET 92
SUGGESTIONS FOR FURTHER READING 99
Chapter 5. Housing and Mortgage Markets in the National Economy 100
HOUSING STARTS AND FLUCTUATIONS 101
HOUSING FLUCTUATIONS AND MACROECONOMIC FLUCTUATIONS 106
HOUSING IN A GENERAL EQUILIBRIUM MODEL 108
THE MORTGAGE MARKET 110
HOUSING, MORTGAGE MARKETS, AND INFLATION 119
SUGGESTIONS FOR FURTHER READING 124
Chapter 6. The Economic Rationale for Housing Policy 126
THE SOCIAL WELFARE FUNCTION 126
PARETO EFFICIENCY 131
THE ROLE FOR GOVERNMENT 133
PUBLIC CHOICE ANALYSIS 135
SUGGESTIONS FOR FURTHER READING 137
Chapter 7. Policies to Achieve Equity 138
INCOME DISTRIBUTION 138
MERIT GOODS 143
DIRECT CONSUMPTION EXTERNALITIES (DONOR PREFERENCES) 146
OTHER EQUITY ISSUES 150
SUGGESTIONS FOR FURTHER READING 154
Chapter 8. Policies to Achieve Pareto Efficiency 156
COMPETITIVE MARKETS 156
EXTERNALITIES 164
UNCERTAINTY 169
STABILIZATION OF FLUCTUATIONS 171
SUGGESTIONS FOR FURTHER READING 175
Chapter 9. Housing Policy in Canada 176
FEDERAL HOUSING POLICY 176
PROVINCIAL HOUSING POLICIES 191
SUGGESTIONS FOR FURTHER READING 196
Chapter 10. The Effects of Policies 198
SHELTER ALLOWANCES 199
DIRECT MORTGAGE LENDING 202
PUBLIC HOUSING 207
RENT CONTROLS 211
INCOME TAXATION 216
SUGGESTIONS FOR FURTHER READING 219
Notes 220
References 230
Index 242

Produkt-Details

• Erscheint lt. Verlag: 12.5.2014
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Wirtschaftsrecht
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Rechnungswesen / Bilanzen
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Bankbetriebslehre
• Themenwelt: Betriebswirtschaft / Management ► Spezielle Betriebswirtschaftslehre ► Immobilienwirtschaft
• ISBN-10: 1-4831-9256-3 / 1483192563
• ISBN-13: 978-1-4831-9256-7 / 9781483192567