Housing Economics focuses upon contemporary developments and the cutting edge of research in the field, although some reference to classic studies is also made. Part One: Understanding Housing Markets considers core topics in the microeconomics of housing markets, such as the determinants of housing demand, tenure choice and housing market search behaviour.Part Two: Housing Finance looks at the mechanisms of financing housing consumption in terms of the regulation and reform of the mortgage market, issues of default and the subprime mortgage crisis, and the link between housing finance and the broader macroeconomy.Part Three: House Price Dynamics and Methodological Questions encompasses two distinct topics. Firstly, it examines house price dynamics: in particular, it explores attempts to understand housing market bubbles. Secondly, it includes a selection of papers that reflect on how housing economists approach market analysis and illustrate the diversity of approaches deployed in the economic analysis of housing.Part Four: Housing in Context recognizes that housing markets need to be understood in context and examines some of the many ways in which housing markets are connected with other aspects of society and the economy.Part Five: Government and Policy considers the varying roles of government in the housing market: tax and subsidy; direct provision; and regulation.
