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Putting the Supplier in Housing Supply: An Overview of the Growth and Concentration of Large Homebuilders in the United States (1990--2007)

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  • Peter Wissoker

Abstract

As housing production was ramping up in the 1990s and 2000s, some of the industry’s largest firms experienced remarkable growth primarily through mergers and acquisitions and the issuance of debt; the market share of the 10 largest firms tripled between 1995 and 2005. This article describes the role of financial firms in encouraging that growth and some of its consequences. Drawing on financial filings, news reports, investor analyses, and other relevant data, this article offers an overview of the relationship between homebuilders and investment firms, as well as a new explanation of the oversupply of housing in the 2000s. In doing so, this article seeks to bring attention to homebuilders as a missing feature in analyses of housing supply and housing markets, and proposes directions for future research.

Suggested Citation

  • Peter Wissoker, 2016. "Putting the Supplier in Housing Supply: An Overview of the Growth and Concentration of Large Homebuilders in the United States (1990--2007)," Housing Policy Debate, Taylor & Francis Journals, vol. 26(3), pages 536-562, May.
    • Handle: RePEc:taf:houspd:v:26:y:2016:i:3:p:536-562
    DOI: 10.1080/10511482.2015.1115418
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    1. Thomas I. Palley, 2013. "Financialization: What It Is and Why It Matters," Palgrave Macmillan Books, in: Financialization, chapter 2, pages 17-40, Palgrave Macmillan.
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    2. Gabbe, C.J. & Kevane, Michael & Sundstrom, William A., 2021. "The effects of an “urban village” planning and zoning strategy in San Jose, California," Regional Science and Urban Economics, Elsevier, vol. 88(C).

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