The Cascade GIS Diffusion Model for Measuring Housing Absorption by Small Area with a Case Study of St. Lucie County, Florida
AbstractThe geographer's spatial diffusion theory is combined with Geographic Information Systems (GIS) technology to provide a new framework for predicting residential single-family development patterns. We refer to the model as a multiple-state 'Cascade' GIS diffusion model. Parameter calibration is done using two-stage least squares. The model predicts new housing built and purchased by small submarket. Our example submarket is at the census tract level; a smaller submarket could have been chosen. The contribution to housing forecasting literature is a structural model that captures the spatial diffusion process at various geographical scales. Model estimation and forecasts are facilitated using GIS technology via a high resolution and high precision database using county property tax bills.
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Bibliographic InfoArticle provided by American Real Estate Society in its journal Journal of Real Estate Research.
Volume (Year): 8 (1993)
Issue (Month): 3 ()
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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
Web page: http://www.aresnet.org/
Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
Find related papers by JEL classification:
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
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- Beach, Charles M & MacKinnon, James G, 1978. "A Maximum Likelihood Procedure for Regression with Autocorrelated Errors," Econometrica, Econometric Society, vol. 46(1), pages 51-58, January.
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