urban housing demand

Todd Sinai
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by Steven N. Durlauf and Lawrence E. Blume
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Abstract

Urban housing demand is a reflection of households’ desire to live in cities. In this article, I discuss possible reasons why US households have exhibited an increasing taste for urban living, including employment, urban amenities, and consumption opportunities. Next, I explain how growing urban housing demand led to rising house prices and a sorting of households across cities by income. That dynamic generated a divergence across housing markets in the value of the tax subsidy to owner-occupied housing as well as housing market risk. Those factors, in turn, had a feedback effect on urban housing demand.
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How to cite this article

Sinai, Todd. "urban housing demand." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 23 April 2014 <http://www.dictionaryofeconomics.com/article?id=pde2008_U000063> doi:10.1057/9780230226203.1773

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