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Rental Housing and the Natural Vacancy Rate

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  • Daniel A. Hagen

    ()
    (Western Washington University)

  • Julia L. Hansen

    ()
    (Western Washington University)

Abstract

This study uses 1989-2005 data for the Seattle metropolitan area to test the natural vacancy rate hypothesis for rental housing markets using a new methodology. Findings support the existence of a natural vacancy rate for apartments that varies over time, and in some cases across apartment submarkets. Results show a decline in the natural vacancy rate in the time period following the introduction and growth of the Web. Results also show significant differences in natural vacancy rates for different geographic subareas. No significant differences in the natural vacancy rate are found for different apartment types.

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File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol32n04/03.413_434.pdf
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Bibliographic Info

Article provided by American Real Estate Society in its journal journal of Real Estate Research.

Volume (Year): 32 (2010)
Issue (Month): 4 ()
Pages: 413-434

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Handle: RePEc:jre:issued:v:32:n:4:2010:p:413-434

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Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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Web page: http://www.aresnet.org/

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Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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Web: http://aux.zicklin.baruch.cuny.edu/jrer/about/get.htm

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Cited by:
  1. Goodman, Allen C., 2013. "Is there an S in urban housing supply? or What on earth happened in Detroit?," Journal of Housing Economics, Elsevier, vol. 22(3), pages 179-191.

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