A Study of Ingredients Affecting the Private Sectures Inclination Towards Housing Supply
الموضوعات :
Mohammad Mehdi Heidari
1
(Ph.D. Candidate, Department of Art and Architecture, Science and Research Branch, Islamic Azad University, Tehran, Iran)
Hamid Majedi
2
(Associate professor, Department of Art and Architecture, Science and Research Branch, Islamic Azad University, Tehran, Iran)
الکلمات المفتاحية: Housing, Investment in housing, Housing supply, House and land price, Housing accumulated deficit,
ملخص المقالة :
Just like any other economic field, housing market has two basic foundations which are demand and supply.Its obvious that disequilibrum between these foundations, will drasticaly affect the housing affordability and can also lead towide slump in many markets. That’s why, policy makers usually intend to stimulat the supply by means of providing low intrestloans, low priced land, etc. In this paper the correlation of private sector’s inclination to invest and supply housing with variouscriteria has been analyzed. Dependent variables deputed for investment inclination are investment volume and estimated floorarea of started residential buildings, completed residential units and total floor area and number of residential units in permitsissued. On the other hand, the independent variables used are liquidity, house and land price and accumulated deficit of residentialunits. Besides, the Hodrick-Prescott filter (HP) has been applied to time series data, in order to separate the trend componentsand the cyclic components. The result of analysis indicates that the liquidity has the most correlation and the accumulated deficitof residential units has the least correlation with the private supply inclination.
