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Transaction Costs in Housing Markets

Author

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  • Jos van Ommeren

    () (VU University Amsterdam)

Abstract

According to economic theory, there are no strong reasons to tax (or to subsidise) residential moves, although low levels of taxation may be potentially justified to deal with the presence of externalities and economic stability. This is in contrast to practise in most countries where governments have created strong barriers to moving (transaction taxes, rent control) which induces substantial transaction costs. Likely, the welfare losses due to these government-induced transaction costs are substantial.

Suggested Citation

  • Jos van Ommeren, 2008. "Transaction Costs in Housing Markets," Tinbergen Institute Discussion Papers 08-099/3, Tinbergen Institute.
  • Handle: RePEc:tin:wpaper:20080099
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    File URL: https://papers.tinbergen.nl/08099.pdf
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    Cited by:

    1. Goswami, Gautam & Tan, Sinan & Waisman, Maya, 2014. "Understanding the cross-section of the U.S. housing bubble: The roles of lending, transaction costs, and rent growth," Journal of Financial Stability, Elsevier, vol. 15(C), pages 76-90.

    More about this item

    Keywords

    Housing market; residential mobility; transaction costs; transaction taxes; rent control;

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population

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