Tenure Choice, Housing Demand, and Residential Location
This paper incorporates location and tenure choice into a simultaneous equation model of housing demand. The estimation results reveal that an important asymmetry may exist between renters and homeowners in terms of their respective housing decisions. The most important finding in this paper is that for homeowners housing quality and locations are jointly determined. Equally important, the decision process for homeowners appears to be sequential in nature, with tenure choice independent of the housing demand and location decisions. However, this does not appear to be the case for renters. It may be that for tenants location and housing quality choices are more limited than for homeowners.
Volume (Year): 6 (1991)
Issue (Month): 3 ()
|Contact details of provider:|| Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323|
Web page: http://www.aresnet.org/
|Order Information:|| Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323|
Web: http://pages.jh.edu/jrer/about/get.htm Email:
References listed on IDEAS
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.:
- Rosenthal, Stuart S., 1988.
"A residence time model of housing markets,"
Journal of Public Economics,
Elsevier, vol. 36(1), pages 87-109, June.
- Gillingham, Robert & Hagemann, Robert, 1983. "Cross-sectional estimation of a simultaneous model of tenure choice and housing services demand," Journal of Urban Economics, Elsevier, vol. 14(1), pages 16-39, July.
- King, Mervyn A., 1980. "An econometric model of tenure choice and demand for housing as a joint decision," Journal of Public Economics, Elsevier, vol. 14(2), pages 137-159, October.
- G. Donald Jud & D. Gordon Bennett, 1986. "Public Schools and the Pattern of Intraurban Residential Mobility," Land Economics, University of Wisconsin Press, vol. 62(4), pages 362-370.
- Martin J. Bailey, 1959. "Note on the Economics of Residential Zoning and Urban Renewal," Land Economics, University of Wisconsin Press, vol. 35(3), pages 288-292.
- Li, Mingche M, 1977. "A Logit Model of Homeownership," Econometrica, Econometric Society, vol. 45(5), pages 1081-97, July.
- Charles M. Tiebout, 1956. "A Pure Theory of Local Expenditures," Journal of Political Economy, University of Chicago Press, vol. 64, pages 416.
- Mervyn A. King, 1980. "An econometric model of tenure choice and demand for housing as a joint decision," NBER Chapters, in: Econometric Studies in Public Finance, pages 137-159 National Bureau of Economic Research, Inc.
- Courant, Paul N., 1978. "Racial prejudice in a search model of the urban housing market," Journal of Urban Economics, Elsevier, vol. 5(3), pages 329-345, July.
- Gabriel, Stuart A & Rosenthal, Stuart S, 1989. "Household Location and Race: Estimates of Multinomial Logit Model," The Review of Economics and Statistics, MIT Press, vol. 71(2), pages 240-49, May.
- de Leeuw, Frank, 1971. "The Demand for Housing: A Review of Cross-Section Evidence," The Review of Economics and Statistics, MIT Press, vol. 53(1), pages 1-10, February.
- Donald E. Frey, 1989. "A Structural Approach to the Economic Base Multiplier," Land Economics, University of Wisconsin Press, vol. 65(4), pages 352-358.
- Artle, Roland & Varaiya, Pravin, 1978. "Life cycle consumption and homeownership," Journal of Economic Theory, Elsevier, vol. 18(1), pages 38-58, June.
- Smith, Lawrence B & Rosen, Kenneth T & Fallis, George, 1988. "Recent Developments in Economic Models of Housing Markets," Journal of Economic Literature, American Economic Association, vol. 26(1), pages 29-64, March.
- Lee, Lung-Fei & Trost, Robert P., 1978. "Estimation of some limited dependent variable models with application to housing demand," Journal of Econometrics, Elsevier, vol. 8(3), pages 357-382, December.
- Olsen, Edgar O., 1987. "The demand and supply of housing service: A critical survey of the empirical literature," Handbook of Regional and Urban Economics, in: E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 2, chapter 25, pages 989-1022 Elsevier.
- Brown, Barbara, 1985. "Location and housing demand," Journal of Urban Economics, Elsevier, vol. 17(1), pages 30-41, January.
- Mahlon R. Straszheim, 1975. "An Econometric Analysis of the Urban Housing Market," NBER Books, National Bureau of Economic Research, Inc, number stra75-1, May.
- Robert A. Haugen & A. James Heins, 1969. "A Market Separation Theory of Rent Differentials in Metropolitan Areas," The Quarterly Journal of Economics, Oxford University Press, vol. 83(4), pages 660-672.
When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:6:n:3:1991:p:341-356. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.