Big House, Little House: Relative Size and Value
AbstractHow do markets value relative house size in a neighborhood? The literature offers differing rationales: atypical houses sell for less, capitalization of property taxes penalizes larger and benefits smaller houses in mixed neighborhoods and conspicuous consumption reinforces the value of relatively larger houses and reduces the value of relatively smaller houses to consumers. Using a simultaneous price-liquidity model that controls for neighborhood supply and demand conditions, this article finds a dominant tax capitalization effect on price and marketing time that appears to override any extant atypicality or conspicuous consumption effects. Copyright 2006 American Real Estate and Urban Economics Association
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by American Real Estate and Urban Economics Association in its journal Real Estate Economics.
Volume (Year): 34 (2006)
Issue (Month): 3 (09)
Contact details of provider:
Postal: Indiana University, Kelley School of Business, 1309 East Tenth Street, Suite 738, Bloomington, Indiana 47405
Phone: (812) 855-7794
Fax: (812) 855-8679
Web page: http://www.blackwellpublishing.com/journal.asp?ref=1080-8620
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Geoffrey Turnbull & Velma Zahirovic-Herbert, 2012. "The Transitory and Legacy Effects of the Rental Externality on House Price and Liquidity," The Journal of Real Estate Finance and Economics, Springer, vol. 44(3), pages 275-297, April.
- Gallagher, Ryan M. & Kurban, Haydar & Persky, Joseph J., 2013.
"Small homes, public schools, and property tax capitalization,"
Regional Science and Urban Economics,
Elsevier, vol. 43(2), pages 422-428.
- Ryan M. Gallagher & Haydar Kurban & Joseph J. Persky, 2013. "Small Homes, Public Schools, and Property Tax Capitalization," Working Papers 13-04, Center for Economic Studies, U.S. Census Bureau.
- Justin Benefield & Christopher Cain & Ken Johnson, 2011. "On the Relationship Between Property Price, Time-on-Market, and Photo Depictions in a Multiple Listing Service," The Journal of Real Estate Finance and Economics, Springer, vol. 43(3), pages 401-422, October.
- Leguizamon, Susane J. & Ross, Justin M., 2012. "Revealed preference for relative status: Evidence from the housing market," Journal of Housing Economics, Elsevier, vol. 21(1), pages 55-65.
- Justin Benefield & Ronald Rutherford & Marcus Allen, 2012. "The Effects of Estate Sales of Residential Real Estate on Price and Marketing Time," The Journal of Real Estate Finance and Economics, Springer, vol. 45(4), pages 965-981, November.
- Linda Gerkman, 2012. "Empirical spatial econometric modelling of small scale neighbourhood," Journal of Geographical Systems, Springer, vol. 14(3), pages 283-298, July.
- Velma Zahirovic-Herbert & Karen Gibler, 2014. "Historic District Influence on House Prices and Marketing Duration," The Journal of Real Estate Finance and Economics, Springer, vol. 48(1), pages 112-131, January.
- Marco Hoeberichts & Maarten van Rooij & Arjen Siegmann, 2008. "Market Thinness, List Price Revisions and Time to Sell: Evidence from a large-scale housing dataset," DNB Working Papers 176, Netherlands Central Bank, Research Department.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.