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Can Internet Ads Serve as an Indicator of Homeownership Rates?

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  • Konstantin A. Kholodilin
  • Andreas Mense

Abstract

In this paper, we propose an indicator of the homeownership rate based on Internet ads offering the housing for rent and sale. We constructed the HOR estimate using the number of ads in four different markets (flats for rent, flats for sale, houses for rent, and houses for sale). Our HOR indicator was tested using data of German NUTS1 and planning (ROR) regions. The correlation between our estimate of the HOR and the alternative HOR figures varies between 0.834 and 0.874 at NUTS1 level and is 0.761 at the ROR level. All correlation coefficients are statistically significant. Our HOR estimate is particularly highly correlated with the official HOR figures. Thus, it is shown that our Internet-based indices could serve as a good indicator of the homeownership rate in German regions.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.388082.de/dp1168.pdf
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Bibliographic Info

Paper provided by DIW Berlin, German Institute for Economic Research in its series Discussion Papers of DIW Berlin with number 1168.

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Length: 23 p.
Date of creation: 2011
Date of revision:
Handle: RePEc:diw:diwwpp:dp1168

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Keywords: Internet ads; homeownership rate; German regions; NUTS; planning regions;

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References

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  1. Andrew Haughwout & Richard Peach & Joseph Tracy, 2010. "The homeownership gap," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 16(May).
  2. Konstantin A. Kholodilin & Jan-Oliver Menz & Boriss Siliverstovs, 2010. "What Drives Housing Prices Down? Evidence from an International Panel," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), Justus-Liebig University Giessen, Department of Statistics and Economics, vol. 230(1), pages 59-76, February.
  3. Oliver Lerbs & Christian Oberst, 2011. "Explaining the Spatial Variation in Homeownership Rates: Results for German Regions," CESifo Working Paper Series 3377, CESifo Group Munich.
  4. Brown, W. Mark & Lafrance, Amelie & Hou, Feng, 2010. "Incomes of Retirement-age and Working-age Canadians: Accounting for Home Ownership," Economic Analysis (EA) Research Paper Series 2010064e, Statistics Canada, Analytical Studies Branch.
  5. Gundi Knies & C. Katharina Spie├č, 2007. "Regional Data in the German Socio-Economic Panel Study (SOEP)," Data Documentation 17, DIW Berlin, German Institute for Economic Research.
  6. Glaeser, Edward Ludwig, 2011. "Rethinking the Federal Bias Toward Homeownership," Scholarly Articles 8052149, Harvard Kennedy School of Government.
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Cited by:
  1. Konstantin A. Kholodilin, 2012. "Internet Offer Prices for Flats and Their Determinants: A Cross Section of Large European Cities," Discussion Papers of DIW Berlin 1212, DIW Berlin, German Institute for Economic Research.
  2. Konstantin A. Kholodilin & Claus Michelsen, 2014. "The Market Value of Energy Efficiency in Buildings and the Mode of Tenure," Discussion Papers of DIW Berlin 1398, DIW Berlin, German Institute for Economic Research.
  3. Konstantin A. Kholodilin & Andreas Mense, 2012. "Internet-Based Hedonic Indices of Rents and Prices for Flats: Example of Berlin," Discussion Papers of DIW Berlin 1191, DIW Berlin, German Institute for Economic Research.

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