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Agglomeration and simplified housing boom

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Both ‘spatial skewness’ in population sizes, incomes and house prices and ‘agglomeration economies’are important features in many countries. This paper uses a solvable core-periphery model capturing the two features to specify a market-induced housing boom under the condition of a fixed or very inelastic housing supply. Two main insights emerge from our analysis. First, there exists a rising gap of housing rent to income ratio between two regions. Second, the growth rate of housing rents is higher than that of incomes during an endogenous agglomeration process. These results help us to realise that strong housing booms only take place in a few large cities or metropolitan areas stemming from a homogeneous economy.

Keywords
agglomeration, core-periphery, housing boom, housing rent

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Informasi Detail

Judul Seri

Urban Studies

No. Panggil

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Penerbit

: SAGE., 2016

Deskripsi Fisik

Urban Studies 2016, Vol. 53(5) 936–956

Bahasa

English

ISBN/ISSN

DOI: 10.1177/0042098

Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

SOSIAL

Info Detail Spesifik

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Pernyataan Tanggungjawab

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