Housing Economics

Housing Economics

1st Edition - November 23, 1984

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  • Author: George Fallis
  • eBook ISBN: 9781483192567

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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.

Table of Contents

  • Acknowledgments

    1 Introduction



    Spatial Fixity

    Housing Starts

    Housing Conditions

    The Price of Housing

    Mortgages and the Mortgage Market

    2 The Demand for Housing

    Housing as a Standard Commodity

    Housing as a Heterogeneous Commodity

    Tenure Choice

    Housing in a Spatial Context

    3 The Supply of Housing

    Housing as a Standard Commodity: Long-Run Supply

    The Investment Decision

    Durable Housing Stock: Short- and Medium-Run Supply

    Heterogeneous Housing Supply

    Supply in a Spatial Housing Market

    4 Models of the Housing Market

    Housing as a Standard Commodity

    Housing as a Heterogeneous Commodity: Hedonic Price Equations

    Filtering in Housing Markets

    A Spatial Housing Market

    5 Housing and Mortgage Markets in the National Economy

    Housing Starts and Fluctuations

    Housing Fluctuations and Macroeconomic Fluctuations

    Housing in a General Equilibrium Model

    The Mortgage Market

    Housing, Mortgage Markets, and Inflation

    6 The Economic Rationale for Housing Policy

    The Social Welfare Function

    Pareto Efficiency

    The Role for Government

    Public Choice Analysis

    7 Policies to Achieve Equity

    Income Distribution

    Merit Goods

    Direct Consumption Externalities (Donor Preferences)

    Other Equity Issues

    8 Policies to Achieve Pareto Efficiency

    Competitive Markets



    Stabilization of Fluctuations

    9 Housing Policy in Canada

    Federal Housing Policy

    Provincial Housing Policies

    10 The Effects of Policies

    Shelter Allowances

    Direct Mortgage Lending

    Public Housing

    Rent Controls

    Income Taxation




Product details

  • No. of pages: 250
  • Language: English
  • Copyright: © Butterworth-Heinemann 1984
  • Published: November 23, 1984
  • Imprint: Butterworth-Heinemann
  • eBook ISBN: 9781483192567

About the Author

George Fallis

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