The treatment of housing co-operatives in a house price index
AbstractHousing co-operatives, also known as “tenant-owner co-operative housing”, provide an alternative to both renting and owning a dwelling. As an indirect form of ownership, it poses some conceptual and practical issues to anyone aiming at compiling a price index covering all forms of own-occupied housing. Starting from the position that these co-operatives provide a type of tenure similar to owner- occupied housing, this paper provides some practical guidance on the way they can be treated in the compilation of a house price index. An empirical bootstrap study, based on advertised co-operative flats in Oslo, supports the proposals done in this paper. To our knowledge, this is the first time such a study is carried out in this context.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 42200.
Date of creation: 06 Apr 2012
Date of revision:
Housing co-ops; House Price Indexes; Owner-occupied housing; Bootstrap;
Find related papers by JEL classification:
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-11-11 (All new papers)
- NEP-HME-2012-11-11 (Heterodox Microeconomics)
- NEP-URE-2012-11-11 (Urban & Real Estate Economics)
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