Rent control is a highly debated social policy that has been omnipresent since World War I. Since 2010s, it has been experiencing a true renaissance, for many cities and countries facing housing shortage are desperately looking for solutions of the chronic housing shortage and direct their attention to controlling housing rents and to other restrictive policies. Is rent control useful or does it...
The housing issue is one of the hottest social problems. It is widely debated by the society. These debates contain a large subjective component. In addition, they are expected to correlate with the phases of the housing cycle. One of the most visible and durable manifestationsof these debates are the media items. In this study, we aim at assessing the sentiment of these media publications in...
Sales in the construction industry will continue to increase strongly in 2022 and 2023. Overall, DIW Berlin estimates a nominal increase in construction volume of almost 13 percent in 2022 and six percent in 2023 to 585 billion euros. In 2021, construction volume increased by ten percent to 488 billion euros, which is around 15 percent of GDP. This shows that construction demand remains at a high level ...
Private rental markets have become increasingly important since the Global Financial Crisis 2008–2009 and rent controls are back on the political agenda. Yet, they have received less attention from housing scholars than homeownership and public housing. This paper presents new data on the development of private tenancy legislation based on a content-coding of rent control, protection of tenants from ...
This paper provides evidence for the propagation of idiosyncratic mortgage supply shocks to the macroeconomy. Based on micro-level data from the Home Mortgage Disclosure Act for the 1990-2016 period, our results suggest that lender-specific mortgage supply shocks affect aggregate mortgage, house price, and employment dynamics at the regional level. The larger the idiosyncratic shocks to newly issued ...
The coronavirus pandemic has led to a deep worldwide economic crisis. In many countries, the construction industry has been impacted. In Germany, however, construction activity is one of the economic sectors that has remained largely stable: In 2020, the total construction volume in Germany is expected to have increased by around four percent to 444 billion euros after increasing by around eight percent ...
Rent control is a highly debated social policy that has been omnipresent since World War I. Since 2010s, it has been experiencing a true renaissance, for many cities and countries facing housing shortage are desperately looking for solutions of the chronic housing shortage and direct their attention to controlling housing rents and to other restrictive policies. Is rent control useful or does it create ...
This article studies housing rents in St. Petersburg from 1880 to 1917, covering an eventful period of Russian and world history. Digitizing over 5000 rental advertisements, we construct a state-of-the-art index – the first pre-war and pre-Soviet market data index for any Russian city. In 1915, a rent control and tenant protection policy was introduced in response to soaring prices following the outbreak ...
We quantify the contribution of rental income to pre- and post-government equivalent household income inequality and of housing wealth to net wealth inequality between 2002 and 2017 in Germany by means of a factor decomposition. Further, we differentiate by region types (urban vs. rural, large vs. small municipalities) and federal states. We find that housing wealth, housing ownership and rental income ...