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Cote, B, Robinson, B, Gabr, M A and Borden, R H (2013) Performance-Cost Analysis of Stabilized Undercut Subgrades. Journal of Construction Engineering and Management, 139(02), 121–7.

de Azevedo, R C, de Oliveira Lacerda, R T, Ensslin, L, Jungles, A E and Ensslin, S R (2013) Performance Measurement to Aid Decision Making in the Budgeting Process for Apartment-Building Construction: Case Study Using MCDA-C. Journal of Construction Engineering and Management, 139(02), 225–35.

El-Anwar, O and Chen, L (2013) Computing a Displacement Distance Equivalent to Optimize Plans for Postdisaster Temporary Housing Projects. Journal of Construction Engineering and Management, 139(02), 174–84.

Gangolells, M, Casals, M, Forcada, N, Fuertes, A and Roca, X (2013) Model for Enhancing Integrated Identification, Assessment, and Operational Control of On-Site Environmental Impacts and Health and Safety Risks in Construction Firms. Journal of Construction Engineering and Management, 139(02), 138–47.

Ho, C M F (2013) Communication Makes a Corporate Code of Ethics Effective: Lessons from Hong Kong. Journal of Construction Engineering and Management, 139(02), 128–37.

Hwang, B and Lim, E J (2013) Critical Success Factors for Key Project Players and Objectives: Case Study of Singapore. Journal of Construction Engineering and Management, 139(02), 204–15.

Hwang, S, Park, M, Lee, H, Lee, S and Kim, H (2013) Dynamic Feasibility Analysis of the Housing Supply Strategies in a Recession: Korean Housing Market. Journal of Construction Engineering and Management, 139(02), 148–60.

  • Type: Journal Article
  • Keywords: Computer aided simulation; Dynamic analysis; Government policies; South Korea; Real estate properties; Housing; Case studies; Computer aided simulation; Dynamic analysis; Government policies; South Korea; Real estate properties;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)CO.1943-7862.0000577
  • Abstract:
    Establishing housing supply strategies in a stagnant housing market is a significant issue because of two contradictory and concurrent problems. The first is the long-cherished desire to supply low-cost housing for low- and middle-income families, and the second is the problem of high vacancy levels attributable to low-level sales rates. Governments have been continuously implementing various supply policies intended to distribute houses evenly and to keep supply and demand in balance. However, it is difficult to satisfy consumers, owners, and suppliers because of conflicting needs and requirements. This paper therefore applies a system dynamics methodology and offers an integrated model that encompasses the for-profit behavior of each market participant, analyzes supply policies, and suggests appropriate and effective policies. Utilizing the case of the Korean housing market, the proposed model simulates future trends in house prices, balances between supply and demand, construction companies’ earnings, and vacancy rates when various housing supply scenarios are applied. With extensive studies with the results from the simulation model, the authors recommend using private construction companies to stabilize housing distribution rates and the private supply system and ensure a balance between supply and demand.

Kang, S and Seo, J (2013) GIS Method for Haul Road Layout Planning in Large Earthmoving Projects: Framework and Analysis. Journal of Construction Engineering and Management, 139(02), 236–46.

Lu, W, Peng, Y, Shen, Q and Li, H (2013) Generic Model for Measuring Benefits of BIM as a Learning Tool in Construction Tasks. Journal of Construction Engineering and Management, 139(02), 195–203.

Sylvie, J R, Thomas, S R, Lee, S, Chapman, R E and Smith, R T (2013) Development and Interpretation of the Security Rating Index. Journal of Construction Engineering and Management, 139(02), 185–94.

Xu, J, Meng, J, Zeng, Z, Wu, S and Shen, M (2013) Resource Sharing-Based Multiobjective Multistage Construction Equipment Allocation under Fuzzy Environment. Journal of Construction Engineering and Management, 139(02), 161–73.

Yu, W, Lin, T, Liu, S and Chang, P (2013) Is the Knowledge Management System Truly Cost Effective? Case Study of KM-Enabled Engineering Problem Solving. Journal of Construction Engineering and Management, 139(02), 216–24.