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Housing affordability during the urban transition in Spain

Pidal, Juan Carmona, Lampe, Markus and Rosés, Joan R. (2014) Housing affordability during the urban transition in Spain. Economic History working paper series (208/2014). The London School of Economics and Political Science, London, UK.

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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 crossregional 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.

Item Type: Monograph (Working Paper)
Official URL: http://www.lse.ac.uk/economicHistory/home.aspx
Additional Information: © 2014 The Authors
Divisions: Economic History
Subjects: H Social Sciences > HC Economic History and Conditions
JEL classification: N - Economic History > N9 - Regional and Urban History > N93 - Europe: Pre-1913
N - Economic History > N9 - Regional and Urban History > N94 - Europe: 1913-
R - Urban, Rural, and Regional Economics > R3 - Production Analysis and Firm Location > R30 - General
Sets: Departments > Economic History
Collections > Economists Online
Date Deposited: 18 Dec 2014 15:55
Last Modified: 20 Feb 2019 03:49
URI: http://eprints.lse.ac.uk/id/eprint/60556

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