Please find below a PowerPoint presentation entitled Housing Supply & Price Volatility that I presented last Thursday to a mortgage risk roundtable in Melbourne.
The presentation discusses how markets with unresponsive (inelastic) land/housing supply tend to suffer from higher house price volatility and bigger boom and bust cycles than markets where land/housing supply is relatively responsive (elastic) to changes in price.
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Housing Supply and Price Volatility (Feb 2013) by leithvanonselen
