Home ownership and rent control in Switzerland

Werczberger, Elia

doi:10.1080/02673039708720900

Cited by 51 publications

(34 citation statements)

References 13 publications

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“…Despite the positive association between income and wealth and homeownership on an individual level, it is not necessarily the richest countries where home-ownership is most widespread (Stephens, 2003). According to Werczberger (1997), for the 12 countries that were members of the European Union in the early 1990s plus Switzerland, the correlation between GDP per capita and the homeownership rate was negative (-0.65) and statistically significant in 1990. It should be noted that, for the countries in Table 1, the correlation between these same indicators in 2000 is also negative, but weak and insignificant.…”

Section: Differences Between Countries In Housing-market Circumstancesmentioning

confidence: 99%

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Home-ownership and family formation

Mulder

2006

J Housing Built Environ

149

117

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Section: Differences Between Countries In Housing-market Circumstancesmentioning

confidence: 99%

“…This might be a person's or couple's own wealth, or wealth coming from the parents or other third parties. In the empirical literature it is usually found that wealth and income are associated with the propensity to own (Mulder & Wagner, 1998;Werczberger, 1997).…”

Section: Resources Needed For Home-ownershipmentioning

confidence: 99%

Home-ownership and family formation

Mulder

2006

J Housing Built Environ

149

117

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“…For the time prior to 1930, it shows that the index computed using the data published by Statistics Switzerland (2013) accords with the general macroeconomic developments and accounts of housing market developments (Böhi, 1964;Woitek and Müller, 2012;Werczberger, 1997;Michel, 1927).…”

mentioning

confidence: 99%

No Price Like Home: Global House Prices, 1870–2012

Knoll

Schularick

Steger

2017

American Economic Review

377

258

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How have house prices evolved in the long-run? This paper presents annual house price indices for 14 advanced economies since 1870. Based on extensive data collection, we are able to show for the first time that house prices in most industrial economies stayed constant in real terms from the 19th to the mid-20th century, but rose sharply in recent decades. Land prices, not construction costs, hold the key to understanding the trajectory of house prices in the long-run. Residential land prices have surged in the second half of the 20th century, but did not increase meaningfully before. We argue that before World War II dramatic reductions in transport costs expanded the supply of land and suppressed land prices. Since the mid-20th century, comparably large land-augmenting reductions in transport costs no longer occurred. Increased regulations on land use further inhibited the utilization of additional land, while rising expenditure shares for housing services increased demand.

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“…Werczberger (1997) suggests that rent controls may help to explain Switzerland's low ownership rate; however, his interpretation reflects a focus on the demand side of the rental market, not the supply side. In any case, rents can be adjusted only to reflect higher operating and maintenance costs, along with interest rates.…”

Section: Taxes and Subsidiesmentioning

confidence: 99%