Housing Affordability. A Literature Review
Affordability concept became relevant along last decade in housing economics literature and strongly after 2007 with the credit crunch shock. The multiplicity of focuses used in affordability analysis as well as the different concepts used to analyze difficulties faced by house-holds entering to housing market, lead to the appearance of a number of definitions and measures not always consistent. This paper contains a literature review about housing affordability. The aim is to give a structure of concepts explaining what affordability is understood and show how it is measured. The second part of the paper estimates some affordability ratios for Spain and discusses some relationship with business cycle.
Volume (Year): 21 (2012)
Issue (Month): 2 ()
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