much housing to own, and city residents vote on the number of new building permits every period. Under-supply of housing … persists in equilibrium under conditions we characterize. City residents invest in housing because they expect their investment … local housing. This vicious cycle between ownership and urban growth generates a tension between the common housing policy …

In this paper, we present a directed search model of the housing market. The pricing mechanism we analyze reflects the …. Our model offers a new way to look at the housing market from a search-theoretic perspective. In addition, we contribute …

Housing transactions by existing homeowners take two steps, a purchase of a new property and sale of the old housing … unit. These two decisions are not independent, and their sequence may depend on the state of the housing market. This paper … shows how the sequence of buyer-seller decisions depends on, and in turn, affects housing market conditions in an …

Housing transactions by owner-occupiers take two steps, purchase of a new property and sale of the old housing unit …. This paper shows how the transaction sequence decision of owner-occupiers depends on, and in turn, affects housing market … conditions in an equilibrium search-and-matching model of the housing market. We show that home-owners prefer to buy first …

homeowners chose when to move house, which can be seen as an investment in housing match quality. Since moving house is an … existing match quality distribution, which gives rise to a cleansing effect and leads to overshooting of housing …

We develop a new methodology to estimate the elasticity of urban costs with respect to city population using French … land price data. Our preferred estimate, which handles a number of estimation concerns, stands at 0.041. Our approach also … elasticity of unit land prices with respect to city population. For the latter, our preferred estimate is 0.72. …