Current Project
This project raises the question of how rental housing market and land-use regulations affect the build-up of the speculative house price bubbles that often lead to financial system instability and deep recessions. The study focuses on the OECD countries. Specifically, the project examines the impact of the rent control, protection of tenants from eviction, housing rationing, and land-use regulations. It tests the hypothesis that over- and under-regulated rental markets cause an excessive debt-financed homeownership formation that increases the probability of speculative price bubbles.
Topics: Real estate and housing