UNCERTAINLY, PRICES AND THE SUPPLY OF HOUSING
In: Policy analysis: publ. quarterly for the Graduate School of Public Policy, University of California, Band 5, Heft 1, S. 63-74
ISSN: 0098-2067
POLICY PRESCRIPTIONS USUALLY FOCUS ON DEMAND AS A MEANS OF STABILIZING PRICES. AN ECONOMETRIC ANALYSIS SHOWS THAT THE SUPPLY OF PRIVATE HOUSING STARTS IS A FUNCTION OF VARIABLES PROXYING THE ABILITY AND WILLINGNESS OF THE BUILDING INDUSTRY TO EXPAND ITS OUTPUT, THE TWO MOST IMPORTANT VARIABLES BEING THE NUMBER OF BANKRUPTCIES IN THE CURRENT AND PREVIOUS YEARS.