ABSTRACT
The urban housing researcher of policy analyst is faced with a substantial gap between the illuminating, but perhaps overly simple, theoretical models, and the analytical problems which occur in the empirical examination of housing market processes. Urban economics presents a well-developed body of theory that determines land rents and population densities in terms of the journey-to-work, the locations of the rich and the poor and the construction (and/or demolition) of the urban housing stock. Housing analysis has developed in this context with good specification of supply, demand and market equilibrium for an urban area that is dominated by a central place. 1
