This chapter examines certain of the developments in the application of economic theory
and in empirical and policy analysis with respect to housing markets in general and urban …

The role of real estate during the global financial and economic crisis has prompted efforts to
better incorporate housing and financial channels into macro models, improve housing …

An unsustainable weakening of credit standards induced a US mortgage lending and
housing bubble, whose consumption impact was amplified by innovations altering the …

This paper develops a dynamic model of neighborhood choice along with a computationally
light multi‐step estimator. The proposed empirical framework captures observed and …

Most US house price models break down in the mid‐2000s, due to the omission of
exogenous changes in mortgage credit supply (associated with the sub‐prime mortgage …

This paper develops and simulates a model to examine whether land speculation is
primarily a cause of, or a symptom of, property cycles. The model suggests that the volatility …

This study synthesizes relevant research and commentary on real estate cycles in a micro-
decision-making context and discusses their strategic implications for investors and portfolio …

IN JULY 1987 MASSACHUSETTS governor Michael Dukakis began his run for the
presidency in the midst of what was being called the Massachusetts Miracle, with …

A preliminary dynamical analysis of landscapes and humans as hierarchical complex
systems suggests that strong coupling between the two that spreads to become regionally or …

This article develops the concept of housing market 'rentierization'to describe the shift in the
treatment of housing away from its use as a consumption good to an asset from which …