The gap between market rent and the price of shelter was 6.6 percent larger in December 2023 relative to December 2019. Because shelter prices comprise 36 percent of the Consumer Price Index and therefore influence monetary policy decisions, it is vital to understand the pass-through of this...

Das FDZ Ruhr am RWI stellt Preisindizes für Wohnungen und Häuser (Vermietung und Verkauf) in Deutschland ab dem Jahr 2008 zur Verfügung. Die Preisindizes basieren auf dem Immobiliendatensatz RWI-GEO-RED, der Immobilienangebote von ImmoScout24 zusammenfasst. Wir führen drei Arten von...

Wie haben sich die Wohneigentumsquoten in Deutschland zwischen den Zensusjahren 2011 und 2022 entwickelt? Auf der Grundlage von Daten der Gebäude- und Wohnungszählungen sowie von ergänzenden personenbezogenen Informationen aus der Haushaltebefragung des Zensus geht der Beitrag dieser Frage...

Cost rental, or rental housing at non-market prices, is a new feature of the Irish housing system. Introduced as part of the Affordable Housing Act in 2021, this new tenure aims to lower the lifetime cost of renting by linking rents to economic cost, as well as providing long-term security of...

Wie haben sich die Wohneigentumsquoten in Deutschland zwischen den Zensusjahren 2011 und 2022 entwickelt? Auf der Grundlage von Daten der Gebäude- und Wohnungszählungen sowie von ergänzenden personenbezogenen Informationen aus der Haushaltebefragung des Zensus geht der Beitrag dieser Frage...

We construct a new micro-geographic commercial rent index for Germany to study the capitalization of agglomeration economies into floor space prices. In large local labor markets, commercial rents decline by -17% per kilometer from the central business district, compared to 13% for residential...

Erstmalig wurden die Angebotsdaten mit Hilfe von OpenStreetMap-Einzelhandelseinträgen lageentsprechend gewichtet und die zentrale Innenstadtlage über die Fußläufigkeit zur Haupteinkaufsstraße detailliert abgegrenzt. Dies sind die Kernergebnisse der Untersuchung: Die Mieten im städtischen...

The FDZ Ruhr provides two campus files on real estate advertisements in Germany: the Panel Campus File (RWI-GEO-RED Panel) and a Cross-Sectional Campus File (RWI-GEO-RED Cross-Section). The datasets are extractions of the Scientific Use Files of RWI-GEO-RED. The Panel File covers the 15 largest...

This paper establishes a novel city size premium which may be termed the capitalization premium. Real estate investors derive benefits from investing in larger cities, most notably lower housing risk and/or higher expected rent growth. Standard asset valuation implies that, given the level of...

We use Canadian data to examine how monetary policy affects house prices and the consumer price index for rent (CPI-rent) through exogenous changes in the mortgage interest rates. Nationwide, tighter monetary policy lowers house prices but raises CPI-rent, likely due to higher user costs for...

Foreword: Social Housing in Times of TransformationThe Danish housing sector, which most closely resembles "social housing" in other countries, is the "public housing" sector (although it is privately owned). It is open to anyone who signs up for a waiting list - regardless of income and family...

Accurate measurement of rental inflation is essential for understanding housing market dynamics, informing policy, and ensuring reliable inflation statistics. This paper constructs a repeat rent index (RRI) using newly available administrative data from the Residential Tenancies Board (RTB),...

Urban transportation infrastructure remains underdeveloped in many low- and middle-income countries, while quantitative evidence on urban transport's impact is limited. We examine the effect of the Jakarta Mass Rapid Transit (MRT), Indonesia's first urban railway project, on property values....

Over the past decade, the housing market in the EU has been characterised by significant price growth, putting pressure on housing affordability. Despite a price moderation in 2022 and 2023 due to monetary tightening and increased mortgage interest rates, house prices remain historically high in...

Housing rents are one of the most important and difficult elements of spatial cost of living comparisons. Difficulties arise from the lack of sufficiently detailed and harmonized data, especially at the international level. The emergence of Airbnb has created a valuable new source of...

On December 3, 2024, Michael Hudson met with capital-as-power researchers Jonathan Nitzan, Tim Di Muzio, and Blair Fix to discuss the intersections between their two lines of research. What follows is a transcript of the conversation.

In this paper we assess the implications of monetary policy shocks on the house price to rent ratio in the case of the Irish property market. Crucially, in light of the particular circumstances of the market, we allow for the interaction between monetary policy and changing credit conditions in...

Hidden “junk” fees have the potential to distort competition, creating high costs to consumers. However, regulating them can lead to adverse effects, especially in complex markets with intermediaries where they are most prevalent. To explore the equilibrium adjustments of regulating hidden...

How do different monetary policy tools influence residential housing markets, and how do these effects vary between owner-occupied and rental segments? To answer this question, we assemble a new monthly regional dataset from 35 million real estate listings over the period 2007- 2023 and exploit...

This study critically examines Shenzhen's centralized leasing initiatives aimed at transforming urban villages into Affordable Rental Housing (ARH) to address housing affordability for migrant workers. By analyzing three cases-the Ningmeng Talented Apartment (government-led), the Wancun Plan...

Tenancy rent control limits rent increases for sitting tenants while allowing market resets at vacancy. When demand grows or household composition differs across segments, spillovers raise rents in the unregulated market. We study its general equilibrium effects in Switzerland, where a...

We study how rent control and housing rationing shape housing investment and market tightness in Geneva using a VAR on annual data (1994-2022) with generalized impulse responses and Granger causality. We find that housing rationing functions as abinding quantity restriction as it precedes a...

This paper investigates the localized and short-term effects of COVID-19-induced lockdowns on Shanghai's rental market in the second half of 2022. Using Difference-in-Differences methodologies, we find that rental prices declined by 1.5% following the lockdowns on average, with areas...

This paper examines the effects of Argentina's repeal of the rental law in December 2023, one of the most radical housing policy reforms in Latin America in recent decades. Using weekly data for Buenos Aires from 2023-2024 and applying a Regression Discontinuity Design, we provide causal...

This paper examines the effects of Argentina's repeal of the rental law in December 2023, one of the most radical housing policy reforms in Latin America in recent decades. Using weekly data for Buenos Aires from 2023-2024 and applying a Regression Discontinuity Design, we provide causal...

The purpose of this study is to synthesize existing peer-reviewed literature on fashion renting and provide insights into its role within the broader framework of sustainable consumption and business practices within different cultural contexts, while also guiding future research efforts. This...

I study how monetary policy interacts with mortgage underwriting standards in shaping tenure decisions and rental market equilibria. Using property-level data from the American Housing Survey, I show that the increase in mortgage rates between 2021 and 2023 pushed many potential first-time...

In 2018, Minneapolis became the first U.S. city to eliminate single-family zoning through the Minneapolis 2040 Plan, with a central focus on improving housing affordability. Using a synthetic control approach, this paper finds that the reform reduced the growth of housing costs over the...

This study examines Malta's peer-to-peer (P2P) rental market by comparing rental listings from Facebook Marketplace and an aggregation of real estate agencies' adverts, while the Housing Authority's official register is used as the benchmark characterising the local rental market. Using a...