Browsing by Author "Oblefias, Zyralyn A."

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    Determinants of housing starts in the Philippines: a stock-flow model
    (2016-12) Oblefias, Zyralyn A.; Velasco, Charmaine T. ; Debuque-Gonzales, Margarita
    The Philippines has experienced a large housing deficit over the years. One of the major causes of low housing supply has been high housing costs brought about by high construction costs relative to wages (Ballesteros 2002, 5). This paper investigates the various factors affecting housing starts in the different regions of the country from 2006 to 2014. Using a stock–flow model, this paper finds that construction cost, wages, lending rates, population, topography and typhoon vulnerability, but not total income, significantly induce a shift in the supply schedule of new residential construction projects in the country.