Understanding Affordability: The Economics of Housing Markets

by Geoffrey Meen, Christine Whitehead

Overview

For many younger and lower-income people, housing affordability continues to worsen.

Based on the academic research of two distinguished housing economists – and stimulated by working with governments across the world - this wide-ranging book sets out clear theoretical and empirical frameworks to tackle one of today’s most important socio-economic issues.

Housing unaffordability arises from complex forces and a prerequisite to effective policy is understanding the causes of rising house prices and rents and the interactions between housing, housing finance and the macroeconomy. The authors challenge many of the conventional wisdoms in housing policy and offer innovative recommendations to improve affordability.

Product Details

ISBN-13:	9781529211856
Publisher:	Bristol University Press
Publication date:	08/05/2020
Edition description:	First Edition
Pages:	336
Product dimensions:	6.14(w) x 9.21(h) x 0.00(d)

About the Author

Geoffrey Meen is Professor Emeritus in Applied Economics at the University of Reading and is a member of the UK Collaborative Centre for Housing Evidence.

Christine Whitehead is Professor Emeritus in Housing Economics and Deputy Director of LSE London at the London School of Economics.

Table of Contents

Crisis, What Crisis?

Is Housing Really Unaffordable?

What Factors Determine Changes in House Prices and Rents?

Influences on Household Formation and Tenure

Rental Affordability

What Determines the Number of New Homes Built?

Housing Demand, Financial Markets and Taxation

Housing, Affordability and the Macroeconomy

Planning and the Assessment of Housing Need and Demand

Raising the Level of Provate Housing Construction

Subsidizing the Supply of Rental Housing

Subsidizing the Housing Costs of Lower-Income Tenants

Increasing Home Ownership

Where Do We Go from Here?

What People are Saying About This

From the Publisher

“Brings a wealth of knowledge and wisdom to the analysis of the UK housing market.” David Miles, Imperial College London

“Internationally famed economists Geoffrey Meen and Christine Whitehead provide compelling insights for Understanding Affordability. Their holistic diagnosis offers sobering expectations about what various housing policy prescriptions can achieve.” George Galster, Wayne State University

Editorial Reviews

"This is a book that scores at the top of the scale on scholarship quality. It is undoubtedly set to become a renowned landmark and reference point in the housing studies field." Housing Studies

"The book sets out to unpick the complex forces exacerbating the endemic unaffordability of UK Housing. Thankfully, it offers insight and recommendations to improve our country’s dire situation." Red Brick

"A hugely informative account of the underlying problems in our housing market and why they are so very difficult to tackle." The Society of Professional Economists

“I recommend this fine book to anyone interested in housing economics, and particularly housing affordability in the United Kingdom. It is rare to have a book that presents economic analysis with a sober reflection on political constraints and that also emphasizes the roots of and embraces new developments in the discipline. Understanding Affordability fills that void.” Journal of the American Planning Association

From the Publisher