This review considers the most significant and contemporary
literary contributions to the field of the economics of housing. It
discusses articles that cover the housing markets demand and supply
whilst considering these factors interactions on real estate
valuations, home ownership and wealth decisions. Literature
focusing on the interfaces that occur from the dynamics of
neighbourhoods and housing prices is analysed and the review delves
into how housing markets and their modelling have attracted
particular policy interest, such as rent control. Recent analyses
of housing markets through a lens that emphasizes the importance of
frictions, namely the Diamond-Mortensen-Pissarides (DMP) model is
also extended upon. This review promises to be an informative read
to scholars and academics who are immersed in this fascinating
topic.
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