Description
Book SynopsisFor many younger and lower-income people, housing affordability continues to worsen. Based on the academic research of two distinguished housing economists – and stimulated by working with governments across the world - this wide-ranging book sets out clear theoretical and empirical frameworks to tackle one of today’s most important socio-economic issues. Housing unaffordability arises from complex forces and a prerequisite to effective policy is understanding the causes of rising house prices and rents and the interactions between housing, housing finance and the macroeconomy. The authors challenge many of the conventional wisdoms in housing policy and offer innovative recommendations to improve affordability.
Table of ContentsCrisis, What Crisis? Is Housing Really Unaffordable? What Factors Determine Changes in House Prices and Rents? Influences on Household Formation and Tenure Rental Affordability What Determines the Number of New Homes Built? Housing Demand, Financial Markets and Taxation Housing, Affordability and the Macroeconomy Planning and the Assessment of Housing Need and Demand Raising the Level of Provate Housing Construction Subsidizing the Supply of Rental Housing Subsidizing the Housing Costs of Lower-Income Tenants Increasing Home Ownership Where Do We Go from Here?
