Research Commons
      • Browse 
        • Communities & Collections
        • Titles
        • Authors
        • By Issue Date
        • Subjects
        • Types
        • Series
      • Help 
        • About
        • Collection Policy
        • OA Mandate Guidelines
        • Guidelines FAQ
        • Contact Us
      • My Account 
        • Sign In
        • Register
      View Item 
      •   Research Commons
      • University of Waikato Research
      • Management
      • Management Papers
      • View Item
      •   Research Commons
      • University of Waikato Research
      • Management
      • Management Papers
      • View Item
      JavaScript is disabled for your browser. Some features of this site may not work without it.

      Housing supply, land costs and price adjustment

      Grimes, Arthur; Aitken, Andrew
      DOI
       10.1111/j.1540-6229.2010.00269.x
      Find in your library  
      Citation
      Export citation
      Grimes, A. & Aitken, A. (2010). Housing supply, land costs and price adjustment. Real Estate Economics, 38(2), 325-353.
      Permanent Research Commons link: https://hdl.handle.net/10289/4007
      Abstract
      We analyze relationships between housing supply elasticities, land costs and house price dynamics, contributing three main insights. First, higher housing supply elasticities help contain short-run price spikes following demand shocks. Second, land price dynamics influence this relationship; supply responses are lessened and house price spikes are exacerbated as land prices increase. Third, we estimate a system of regional equations modeling housing supply using a Tobin's-q specification (incorporating construction and land costs) and show that regional price dynamics are a function of the region's supply elasticity.
      Date
      2009
      Type
      Journal Article
      Publisher
      Wiley-Blackwell
      Collections
      • Management Papers [1098]
      Show full item record  

      Usage

       
       
       

      Usage Statistics

      For this itemFor all of Research Commons

      The University of Waikato - Te Whare Wānanga o WaikatoFeedback and RequestsCopyright and Legal Statement