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Secondary Housing Supply

Author

Listed:
  • Mense, Andreas

    (Institute for Employment Research (IAB), Nuremberg, Germany ; London School of Economics)

Abstract

"I estimate the impact of new housing supply on the local rent distribution, exploiting delays in housing completions caused by weather shocks during the construction phase. Increasing the flow of new supply by 1 percent lowers average rents by 0.2 percent, and increases disproportionately the number of second-hand units offered for rent. The impact of the supply shock is similarly strong in locations experiencing growing housing demand. Moreover, it affects the entire rent distribution. Employing a quantitative model, I explain this pattern by secondary supply: New supply triggers a cascade of moves that frees up units in all segments of the local market." (Author's abstract, IAB-Doku) ((en))

Suggested Citation

  • Mense, Andreas, 2023. "Secondary Housing Supply," IAB-Discussion Paper 202306, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany].
    • Handle: RePEc:iab:iabdpa:202306
    DOI: 10.48720/IAB.DP.2306
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    Cited by:

    1. Donovan, Stuart & Maltman, Matthew, 2025. "Dispelling myths: Reviewing the evidence on zoning reforms in Auckland," Land Use Policy, Elsevier, vol. 151(C).
    2. Stephan Brunow & Ramona Jost, 2023. "Being a long distance out-commuter or home employee in a rather peripheral region evidence of a German federal state," Review of Regional Research: Jahrbuch für Regionalwissenschaft, Springer;Gesellschaft für Regionalforschung (GfR), vol. 43(2), pages 317-342, August.
    3. Donovan Stuart & Matthew Maltman, 2024. "Dispelling myths: Reviewing the evidence on zoning reforms in Auckland," Motu Working Papers 24_07, Motu Economic and Public Policy Research.

    More about this item

    Keywords

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    JEL classification:

    • D15 - Microeconomics - - Household Behavior - - - Intertemporal Household Choice; Life Cycle Models and Saving
    • D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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