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What explains Manhattan's declining share of residential construction?

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  • Davidoff, Thomas

Abstract

Dense, expensive, litigious, and highly regulated, Manhattan typifies coastal US housing markets. Manhattan has lost share of US residential construction over the last 45Â years. Some attribute this trend to tightening local regulation, but the decline of public housing construction and the decreasing national share of construction that is multifamily jointly explain away Manhattan's decline. Across US counties, negative correlations between supply growth and both coastal status and regulations disappear conditional on population density.

Suggested Citation

  • Davidoff, Thomas, 2010. "What explains Manhattan's declining share of residential construction?," Journal of Public Economics, Elsevier, vol. 94(7-8), pages 508-514, August.
    • Handle: RePEc:eee:pubeco:v:94:y:2010:i:7-8:p:508-514
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    References listed on IDEAS

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    1. Albert Saiz, 2008. "On Local Housing Supply Elasticity," ERES eres2008_241, European Real Estate Society (ERES).
    2. Richard K. Green & Stephen Malpezzi & Stephen K. Mayo, 2005. "Metropolitan-Specific Estimates of the Price Elasticity of Supply of Housing, and Their Sources," American Economic Review, American Economic Association, vol. 95(2), pages 334-339, May.
    3. Stijn Van Nieuwerburgh & Pierre-Olivier Weill, 2010. "Why Has House Price Dispersion Gone Up?," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 77(4), pages 1567-1606.
    4. Poterba, James M, 1992. "Taxation and Housing: Old Questions, New Answers," American Economic Review, American Economic Association, vol. 82(2), pages 237-242, May.
    5. Edward L. Glaeser & Joseph Gyourko & Raven E. Saks, 2005. "Why Have Housing Prices Gone Up?," American Economic Review, American Economic Association, vol. 95(2), pages 329-333, May.
    6. repec:arz:wpaper:eres2008-241 is not listed on IDEAS
    7. Glaeser, Edward L & Gyourko, Joseph & Saks, Raven, 2005. "Why Is Manhattan So Expensive? Regulation and the Rise in Housing Prices," Journal of Law and Economics, University of Chicago Press, vol. 48(2), pages 331-369, October.
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    Cited by:

    1. Hangtian Xu, 2023. "Commercial‐to‐residential land‐use conversion and residential recentralization in large cities," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 56(1), pages 306-338, February.
    2. Ganong, Peter & Shoag, Daniel, 2017. "Why has regional income convergence in the U.S. declined?," Journal of Urban Economics, Elsevier, vol. 102(C), pages 76-90.
    3. Douglas J. Krupka & Kwame N. Donaldson, 2013. "Wages, Rents, And Heterogeneous Moving Costs," Economic Inquiry, Western Economic Association International, vol. 51(1), pages 844-864, January.

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