Written by two distinguished housing economists, this ambitious book tackles one of the most important socio-economic issues facing households today. Drawing from theoretical and empirical frameworks, the authors challenge conventional wisdoms in housing economics and policy and offer innovative recommendations to improve housing affordability.
Exploring the concept of spatial fixity, this book delves into the unique nature of housing markets, highlighting their immobility compared to other goods. It examines how housing responds to market dynamics, including shortages and excesses, and presents models that analyze the interconnections between various spatial levels—international, national, regional, and urban. Through this lens, it offers insights into the complexities of housing economics and market behavior.