Cross-Tenure Differences in Home Maintenance and Appreciation
AbstractThis 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 InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 73 (1997)
Issue (Month): 3 ()
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Web page: http://le.uwpress.org/
Other versions of this item:
- Dean H. Gatzlaff & Richard K. Green & David C. Ling, 1998. "Cross-Tenure Differences in Home Maintenance and Appreciation," Land Economics, University of Wisconsin Press, University of Wisconsin Press, vol. 74(3), pages 328-342.
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
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