This chapter surveys the literature on housing in macroeconomics. We first collect facts on house prices and quantities in both the time series and the cross section of households and housing markets. We then present a theoretical model of frictional housing markets with heterogeneous agents...

This paper sought to conceptualize the adoption of market segmentation strategy in the design of efficient housing program affordability criteria in Nigeria. Affordability of housing is a critical issue facing the actualization of the basic human need for shelter in a developing nation, such as...

This paper tests whether out-of-sample hedonic value predictions can be improved when a large urban housing market is divided into submarkets.

This paper presents a hedonic housing price model for the city of Glasgow in Scotland. The major innovation of the research is the use of hierarchical clustering techniques to identify property submarkets defined by a combination of property types, locations and socioeconomic characteristics of...

Previous work on hedonic price functions tends to have focused on one of a number of specification and estimation issues; namely, market segmentation, choice of functional form, multicollinearity or spatial autocorrelation. The purpose of this paper is to bring together these various strands to...