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The Microgeography of Housing Supply
Resource type
Authors/contributors
- Baum-Snow, Nathaniel (Author)
- Han, Lu (Author)
Title
The Microgeography of Housing Supply
Abstract
We perform a comprehensive neighborhood-level analysis of housing supply. Predictions of floor space and housing unit supply elasticities using our estimates average 0.5 and 0.3 across all urban neighborhoods in the United States, exhibiting greater variation within than between metro regions. New construction accounts for about 50% of unit supply responses, with important additional roles for teardowns and renovations. Supply responses grow with central business district distance mostly from the increasing availability of undeveloped land, flatter land, and less regulation. Identification comes from variation in labor demand shocks to commuting destinations, as aggregated using insights from a quantitative spatial equilibrium model.
Publication
Journal of Political Economy
Volume
132
Issue
6
Pages
1897-1946
Date
2024-06-01
DOI
ISSN
0022-3808
Accessed
2024-06-27
Extra
Publisher: The University of Chicago Press
Citation
Baum-Snow, N., & Han, L. (2024). The Microgeography of Housing Supply. Journal of Political Economy, 132, 1897–1946.
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