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Cross-Tenure Differences in Home Maintenance and Appreciation

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  • Dean H. Gatzlaff
  • Richard K. Green
  • David C. Ling

Abstract

This paper investigates the relative maintenance levels of owner-and renter-occupied housing by examining their short- and long-run appreciation rates. We modify the standard repeat-sales estimation procedure to test whether owner-occupied housing appreciates faster than renter-occupied housing. This procedure holds constant all structural factors, except for aging; hence, appreciation is estimated net of physical depreciation (i.e., routine aging, deficient and deferred maintenance). We find only weak evidence to support the notion that long-term rates of appreciation (and maintenance levels) are substantially different between owner- and renter-occupied housing.

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Bibliographic Info

Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 73 (1997)
Issue (Month): 3 ()
Pages: 328-342

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Handle: RePEc:uwp:landec:v:73:y:1997:i:3:p:328-342

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Web page: http://le.uwpress.org/

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Cited by:
  1. Coulson, N. Edward & Li, Herman, 2013. "Measuring the external benefits of homeownership," Journal of Urban Economics, Elsevier, vol. 77(C), pages 57-67.
  2. Dietz, Robert D. & Haurin, Donald R., 2003. "The social and private micro-level consequences of homeownership," Journal of Urban Economics, Elsevier, vol. 54(3), pages 401-450, November.
  3. Iwata, Shinichiro & Yamaga, Hisaki, 2008. "Rental externality, tenure security, and housing quality," Journal of Housing Economics, Elsevier, Elsevier, vol. 17(3), pages 201-211, September.
  4. Smith, Marc T. & Murray, Margaret S. & O'Dell, William, 2003. "Estimating the Need for Single Family Rehabilitation," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, Mid-Continent Regional Science Association, vol. 33(2).
  5. Zumbro, Timo, 2011. "The relationship between homeownership and life satisfaction in Germany," CAWM Discussion Papers, Center of Applied Economic Research Münster (CAWM), University of Münster 44, Center of Applied Economic Research Münster (CAWM), University of Münster.
  6. A. Talha Yalta, 2011. "A Model of Down Payment Saving," Working Papers, TOBB University of Economics and Technology, Department of Economics 1101, TOBB University of Economics and Technology, Department of Economics.
  7. Arnold, Lutz G. & Babl, Andreas, 2014. "Alas, my home is my castle: On the cost of house ownership as a screening device," Journal of Urban Economics, Elsevier, vol. 81(C), pages 57-64.
  8. Jeffrey D. Fisher & Brent C Smith & Jerrold J. Stern & R. Brian Webb, 2005. "Analysis of Economic Depreciation for Multi-Family Property," Journal of Real Estate Research, American Real Estate Society, American Real Estate Society, vol. 27(4), pages 355-370.

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