City-wide effects of new housing supply: Evidence from moving chains
Bratu, Cristina; Harjunen, Oskari; Saarimaa, Tuukka (2021-08-31)
Bratu, Cristina
Harjunen, Oskari
Saarimaa, Tuukka
Valtion taloudellinen tutkimuskeskus
31.08.2021
Julkaisun pysyvä osoite on
https://urn.fi/URN:ISBN:978-952-274-281-0
https://urn.fi/URN:ISBN:978-952-274-281-0
Kuvaus
nonPeerReviewed
Tiivistelmä
We study the city-wide effects of new, centrally-located market-rate housing supply using geo-coded total population register data from the Helsinki Metropolitan Area. The supply of new market rate units triggers moving chains that quickly reach middle- and low-income neighborhoods and individuals. Thus, new market-rate construction loosens the housing market in middle- and low-income areas even in the short run. Market-rate supply is likely to improve affordability outside the sub-markets where new construction occurs and to benefit low-income people.
Tutkimusteema
Local public finance and provision of public services
JEL
R31, R21, R23
Avainsanat
Housing supply, Housing affordability, Filtering
Kokoelmat
- VATT Working Papers [164]