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Surpluses in Disequilibrium Urban Land Markets

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  • Curtis C. Harris
  • Virginia D. McConnell

Abstract

It is unlikely that urban land markets are in equilibrium. If land markets are out of equilibrium, zones within an urban area would have residential location surpluses. This paper shows how to derive and estimate an index of income surplus by residential zone. The procedure is applied to the Baltimore Metropolitan Area for 1978. Households should be at attracted to zones with high surpluses. A comparison of the estimated location surpluses and growth rates for the Baltimore area show this correspondence.

Suggested Citation

  • Curtis C. Harris & Virginia D. McConnell, 1987. "Surpluses in Disequilibrium Urban Land Markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 15(4), pages 359-373, December.
    • Handle: RePEc:bla:reesec:v:15:y:1987:i:4:p:359-373
    DOI: 10.1111/1540-6229.00437
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    References listed on IDEAS

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    1. Gregory K. Ingram & John F. Kain & J. Royce Ginn, 1972. "The Detroit Prototype of the NBER Urban Simulation Model," NBER Books, National Bureau of Economic Research, Inc, number ingr72-1, May.
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