Postscript The Evolution of Housing Market Analysis: A Historical Perspective

Abstract

In all developed countries, the portion of the family budget devoted to housing is very sizeable. In spite of this, it is widely felt that housing conditions for people in the lower income brackets are still unsatisfactory. In fact, the situation in this sector is felt to be worse than is the case with other “basic needs” such as food or clothing. This contradicts the tenet held by economists that the individual household allocates his budget to alternative consumption opportunities so that insufficiences are felt equally in all areas of consumption.