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date: 22 January 2020

Abstract and Keywords

This article provides a detailed explanation of housing markets. Housing markets are different from other kinds of markets, in part because housing is not a commodity, and in part because when one buys (or rents) a house, one is also buying a set of neighborhood amenities, schools, transportation systems, and taxes. Housing markets are also heavily regulated. It discusses housing markets and policies and examines related issues, revealing why different cities have different housing markets and why housing markets are different within metropolitan areas. It also looks into measurement issues and house prices, rents and house prices and house price bubbles. Furthermore, it describes the U.S. housing policy, and concepts such as land-use regulation and housing; taxes and housing; and looks into the issues of segregation and discrimination.

Keywords: housing markets, measurement issues, house prices, rents, housing policy, taxes

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