Arbeitspapier
Secondary housing supply
I estimate the impact of new housing supply on the local rent distribution, exploiting delays in housing completions caused by weather shocks during the construction phase. Increasing the flow of new supply by 1 percent lowers average rents by 0.2 percent, and increases disproportionately the number of second-hand units offered for rent. The impact of the supply shock is similarly strong in locations experiencing growing housing demand. Moreover, it affects the entire rent distribution. Employing a quantitative model, I explain this pattern by secondary supply: New supply triggers a cascade of moves that frees up units in all segments of the local market.
- Sprache
-
Englisch
- Erschienen in
-
Series: IAB-Discussion Paper ; No. 6/2023
- Klassifikation
-
Wirtschaft
Intertemporal Household Choice; Life Cycle Models and Saving
Market Structure, Pricing, and Design: General
Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
Housing Supply and Markets
- Thema
-
housing supply
rental housing
rent distribution
secondary markets
market integration
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Mense, Andreas
- Ereignis
-
Veröffentlichung
- (wer)
-
Institut für Arbeitsmarkt- und Berufsforschung (IAB)
- (wo)
-
Nürnberg
- (wann)
-
2023
- DOI
-
doi:10.48720/IAB.DP.2306
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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Objekttyp
- Arbeitspapier
Beteiligte
- Mense, Andreas
- Institut für Arbeitsmarkt- und Berufsforschung (IAB)
Entstanden
- 2023
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