Publisher's Synopsis
This monograph consists of two complementary papers that focus on both the theoretical and empirical aspects of housing market research. Theoretical issues discussed include the appropriate price and income variables for analyzing housing demand, conditions of housing supply, the mortgage market, and the analytical complications arising from the durability and heterogeneity of the housing stock. Empirical issues include the proper role and treatment of the residential neighbourhood, the importance of transaction costs in the adjustment to changed household circumstances, and the best means of analysing household and market demographic indicators. Particular attention is paid to housing-specific econometric problems especially if applied to household-level data bases. These reports should be essential reading for graduates and professionals in urban economics.
