The rapid pace of urbanization and income growth in China in the past decade, spurred in part by the liberalization of the urban housing and labor markets, resulted in considerable growth in urban land rents and wage-rates. The objective of this study is to examine the influence of urban quality...

This study demonstrates that taking into account heterogeneous investment horizons will improve our understanding of housing price and trading dynamics. Using an OLG (Overlapping Generations) model in which agents have heterogeneous preferences and investment horizons, with transaction costs,...