Duration of Residence in the Rental Housing Market
AbstractThis paper estimates a proportional hazard model of duration of residence in rental housing over 1987-98 based on a unique dataset from the BLS-CPI housing sample together with American Housing Survey and other metropolitan economic data. The paper employs an innovative semi-parametric estimation approach for group duration analysis of the proportional hazard model. Results of the analysis indicate that the duration of residence in rental housing varies significantly across individual units and market segments, and is effected by tenant, dwelling, and market characteristics. An improved understanding of duration of residence offers new insights as regards fluctuations in tenant turnover, building occupancy, and rent flows, as well as new confidence in pro forma assumptions critical to rental housing development. Copyright 2003 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Real Estate Finance & Economics.
Volume (Year): 26 (2003)
Issue (Month): 2-3 (March-May)
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