17 April 2026

The III CEMFI School of Economics on “Housing Markets: Constraints, Crisis, and Implications for Households” will take place at the Universidad Internacional Menéndez Pelayo (UIMP) in Santander on 29 June-1 July 2026. The course directors are Samuel Bentolila and Virginia Sánchez-Marcos. It will deal with The course will deal with three highly topical issues regarding households and housing markets.

First, we will review recent developments regarding how households’ decisions on housing tenure -renting versus owning- are incorporated into life-cycle models of consumption decisions, paying particular attention to financial frictions and the role of expectations. Next, we will examine the impact of rising housing prices on household formation and fertility decisions. Finally, we will explore how the housing supply in cities is determined and regulated, which gives rise to frictions and constraints that affect the functioning of housing markets. 

The School is aimed at final year undergraduates and graduate students in Economics or Business Administration. Depending on availability, the students may be invited to attend the 5th Banco de España-CEMFI-UIMP Conference on the Spanish Economy, on “Housing and Institutions: Challenges and Opportunities for Spain”, 2-3 July 2026.

The program is available here, registration should be done at this website, and the period for application to scholarships endowed by UIMP finishes on 4 May 2026.