The declining elasticity of US housing supply
BankUnderground
FEBRUARY 25, 2020
Bruno Albuquerque, Knut Are Aastveit and André Anundsen. In a new paper , we use a rich US dataset and novel identification method to show that supply elasticities vary across cities and across time. This new lower elasticity means US house prices should be more sensitive to changes in demand than before the crisis.
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