Quotation Carmona, Juan, Lampe, Markus, Rosés, Joan. 2014. Housing Affordability during the Urban Transition: Evidence from early 20th Century Spain. Universidad Carlos III Working Papers in Economic History 2014-05.


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Abstract

During the decades previous to the Civil War, Spain experienced a rapid process of urbanization, which was accompanied by the demographic transition and sizeable rural-urban migrations. This article investigates how urban housing markets reacted to these far-reaching changes that increased demand for dwellings. To this end, we employ a new hedonic index of real housing prices and construct a cross-regional panel dataset of rents and housing price fundamentals. This new evidence indicates that rents were not a significant financial burden on low-income families and, hence, housing was affordable for working classes. Also, we show that families' access to new homes was facilitated by a sizable growth of housing supply. Substantial investments in urban infrastructure and the institutional framework enabled the construction of new homes at affordable prices. Our results suggest that housing problems were not pervasive during the urban transition as the literature often seems to claim.

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Publication's profile

Status of publication Published
Affiliation WU
Type of publication Working/discussion paper, preprint
Language English
Title Housing Affordability during the Urban Transition: Evidence from early 20th Century Spain
Title of whole publication Universidad Carlos III Working Papers in Economic History 2014-05
Year 2014
URL http://e-archivo.uc3m.es/bitstream/handle/10016/19341/wp1405.pdf?sequence=1

Associations

People
Lampe, Markus (Details)
External
Carmona, Juan (Departamento de Ciencias Sociales Instituto Figuerola de Historia y Ciencias Soc, Spain)
Rosés, Joan (The London School of Economics and Political Science, United Kingdom)
Organization
Institute for Economic and Social History IN (Details)
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