Rising within-country differences in house values are a much-debated trend in the United
States and internationally. Using new long-run regional data for 15 advanced economies …

In most countries–particularly in supply constrained superstar cities–house prices have risen
much more strongly than rents over the last two decades. We provide an explanation that …

Although “supply skeptics” claim that new housing supply does not slow growth in rents, we
show that rigorous recent studies demonstrate that: 1) Increases in housing supply slow the …

This paper provides a quantitative framework for estimating the effects on house prices and
household welfare of building different types of housing within a city or metropolitan area …

The last few decades have seen the intensity of internal migration decline in Australia and
other advanced economies including the United States. Recent evidence suggests that …

We show five new results about small‐and medium‐sized real estate investors (SMREI) who
participate through legal entities in US housing markets. First, SMREI have the largest …

This paper studies the impact of a new and growing class of institutional investors on US
housing affordability. We find that investorsspurchases increase the price) to) income ratio …

I show how financial intermediaries affect rental housing quality and affordability by
supplying real estate investors with financing for quality improvement projects (ie …

The majority of US households that qualify for federal rental housing assistance do not
receive it. In the absence of an entitlement to housing assistance, an underexplored cause …

Given its significant implications for the economy and society, this paper investigates the
impact of housing supply regulation on household wealth inequality. Utilizing data from the …