Rethinking the Economics of Land and HousingWhy are house prices in many advanced economies rising faster than incomes? Why isn't land and location taught or seen as important in modern economics? What is the relationship between the financial system and land? In this accessible but provocative guide to the economics of land and housing, the authors reveal how many of the key challenges facing modern economies - including housing crises, financial instability and growing inequalities - are intimately tied to the land economy. Looking at the ways in which discussions of land have been routinely excluded from both housing policy and economic theory, the authors show that in order to tackle these increasingly pressing issues a major rethink by both politicians and economists is required. |
Contents
Introduction | 1 |
Landownership and Property | 15 |
The Missing Factor Land in Production and Distribution | 37 |
Land for Housing Land Economics in the Modern Era | 66 |
The Financialisation of Land and Housing | 109 |
Land Wealth and Inequality | 161 |
Other editions - View all
Rethinking the Economics of Land and Housing Josh Ryan-Collins,Toby Lloyd,Laurie Macfarlane Limited preview - 2017 |
Rethinking the Economics of Land and Housing Josh Ryan-Collins,Toby Lloyd,Laurie Macfarlane No preview available - 2017 |
Rethinking the Economics of Land and Housing Josh Ryan-Collins,Toby Lloyd,Laurie Macfarlane No preview available - 2017 |
Common terms and phrases
advanced economies Bank of England boom borrowing building societies buy-to-let capital gains central banks Chapter Clive Turner collateral consumption countries created cycle DCLG demand distribution dynamics economic growth economic rent economic theory economists example factors of production financial crisis financialisation firms funding Gini coefficient homeowners homeownership households housing market housing wealth income increase industry interest rates investment investors labour land and housing land and property land economy land prices land value tax landowners landownership lenders levels loans macroeconomic marginal productivity ment million Monetarism mortgage credit mortgage debt mortgage lending Muellbauer neoclassical economics Northern Rock OECD owners ownership planning political private property problem of rent profits property prices property wealth purchase ratio real estate reform relative residential role of land sector secure securitisation social housing subsidies supply taxation tenure tion urban value of land wages