Predicting housing prices at alternative locations and in alternative scenarios of the spatial job distribution
AbstractAlternative hedonic model formulations are used to compare predicted and observed prices of property transactions in alternative locations. The estimation of model parameters is based on data from Western Norway, and alternative model formulations primarily differ with respect to how spatial structure is represented. In addition to evaluating the predicability of alternative model formulations we also study how housing prices in different areas are affected by changes in the spatial distribution of employment. Alternative scenarios of job relocations are considered. We find, for instance, that the local impact of labor market shocks is negatively related to the degree of urbanization in the relevant region.
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Bibliographic InfoPaper provided by University of Bergen, Department of Economics in its series Working Papers in Economics with number 16/07.
Length: 27 pages
Date of creation: 07 Dec 2007
Date of revision:
Contact details of provider:
Postal: Institutt for økonomi, Universitetet i Bergen, Postboks 7802, 5020 Bergen, Norway
Web page: http://www.uib.no/econ/en
More information through EDIRC
Housing Demand; Housing Supply and Markets.;
Find related papers by JEL classification:
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Richard Voith, 1999.
"The Suburban Housing Market: Effects of City and Suburban Employment Growth,"
Real Estate Economics,
American Real Estate and Urban Economics Association, vol. 27(4), pages 621-648.
- Richard Voith, 1996. "The suburban housing market: effects of city and suburban employment growth," Working Papers 96-15, Federal Reserve Bank of Philadelphia.
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