A Hedonic Approach To Residential Succession
AbstractA model of neighborhood turnover drawn from Bond and Coulson (1989) is proposed. The type of turnover process that is obtained is shown to depend mainly on the hedonic bid functions for housing and neighborhood quality. A demand system of four hedonic attributes is estimated. The main results are that the traditional model of filtering by age of unit does not occur and that filtering by housing size does. Tipping due to changes in median neighborhood income is also quite possible. Tipping through changes in racial composition appears less likely. Copyright 1990 by MIT Press.
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Bibliographic InfoPaper provided by Pennsylvania State - Department of Economics in its series Papers with number 2-88-1.
Length: 26 pages
Date of creation: 1988
Date of revision:
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Postal: PENNSYLVANIA STATE UNIVERSITY, DEPARTMENT OF ECONOMICS, UNIVERSITY PARK PENNSYLVANIA 16802 U.S.A.
Web page: http://econ.la.psu.edu/
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housing market ; neighbourhoods ; economic models;
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