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The Microgeography of Housing Supply

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  • Nathaniel Baum-Snow
  • Lu Han

Abstract

We perform a comprehensive neighborhood-level analysis of housing supply. Predictions of floor space and housing unit supply elasticities using our estimates average 0.5 and 0.3 across all urban neighborhoods in the United States, exhibiting greater variation within than between metro regions. New construction accounts for about 50% of unit supply responses, with important additional roles for teardowns and renovations. Supply responses grow with central business district distance mostly from the increasing availability of undeveloped land, flatter land, and less regulation. Identification comes from variation in labor demand shocks to commuting destinations, as aggregated using insights from a quantitative spatial equilibrium model.

Suggested Citation

  • Nathaniel Baum-Snow & Lu Han, 2024. "The Microgeography of Housing Supply," Journal of Political Economy, University of Chicago Press, vol. 132(6), pages 1897-1946.
    • Handle: RePEc:ucp:jpolec:doi:10.1086/728110
    DOI: 10.1086/728110
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    Cited by:

    1. Anthony Yezer, 2024. "Planning Regulations: Does Land Use Regulation Lower the Average Price of Housing in Cities?," Working Papers 2024-03, The George Washington University, Institute for International Economic Policy.

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