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Presents information on a study which examined how U.S. government regulation affects the dynamics of the low-income housing stock. Framework of the filtering model to explain the effect of restrictions on new construction and rent control on the movement in units of low-income housing stock; Review of related literature; Examination of rent control through metropolitan statistical areas; Data on land-use regulation from the Wharton Urban Decentralization Project Data Set.

Presents an empirical model of housing supply that reflects the land development process consistent with the time-series characteristics of the data. Theoretical issues in modeling new construction; Empirical model; Testing for evidence of a credit crunch.

Evidence from the Boston condominium market of the early 1990's reveals that an owner's equity position determines his experience as a seller. An owner of a property with a high loan-to-value ratio sets a higher asking price, has a higher expected time on the market and, if he sells, receives a higher price than an owner with proportionately less debt. The down payment requirement for purchasers, but not incumbent owners, provides a simple explanation for this phenomenon among owner-occupants. The results provide supporting evidence for equity-based aggregate theories of price-volume movements in the housing market. [ABSTRACT FROM AUTHOR]

Talks about the impact of monetary policy on housing investment in the U.S. as of May 2002. Demand factors for housing; Structural changes in the mortgage market.