2013/12/23 by Keith Ihlanfeldt, Keith R. Ihlanfeldt, Tom Mayock · 2 citations
Business, Management and Accounting · Economics, Econometrics and Finance · #Financial Literacy, Pension, Retirement Analysis #Housing Market and Economics #Housing, Finance, and Neoliberalism
paper · doi:10.3368/le.90.1.79
crossref issued 2013/12/23 · crossref published 2013/12/23 · crossref published-online 2013/12/23 · openalex publication_date 2013/12/23 · crossref published-print 2014/02/01 · crossref created 2015/07/30 · crossref deposited 2024/09/30 · openalex created_date 2025/10/10 · crossref indexed 2026/07/24 · openalex updated_date 2026/07/31
Existing studies of the relationship between housing price dynamics and housing supply—which have relied upon questionable proxies for supply elasticity—have yielded highly mixed results. In this paper we provide new evidence on this relationship based on actual estimates of the price elasticity of supply for local markets in Florida. Intermarket differences in housing supply elasticity are found to explain much of the variation in housing price movements and new construction during the most recent boom-bust cycle. Additionally, we find that variance in the elasticity of housing supply can be attributed to differences in land availability and the local fiscal and regulatory environment. <i>(JEL R14)</i>