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The Rent Gap Re-examined

Author

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  • Eric Clark

    (Institute of Geography, Copenhagen University, Øster Voldgade 10, DK-1350 Copenhagen, Denmark)

Abstract

Rent gap theory is re-examined in view of Bourassa's recent critique. The critique is found to be flawed on three accounts. It equates an abstract concept (actual land rent) with a concrete event (contract rent); it seeks the relevance of the rent gap at times of redevelopment; and it diminishes rent gap theory to an equation for calculating the profitability of redevelopment. In this re-examination, it is argued that: (1) actual land rent is not equal to contract rent; (2) the significance of the rent gap extends over a longer period prior to redevelopment; and (3) rent gap theory should not be reduced to a break-even point in real estate accounting. It is a political economic theory of uneven development on the urban scale and as such cannot be divorced from the societal relations and power struggles involved in the creation and capture of values in the built environment.

Suggested Citation

  • Eric Clark, 1995. "The Rent Gap Re-examined," Urban Studies, Urban Studies Journal Limited, vol. 32(9), pages 1489-1503, November.
    • Handle: RePEc:sae:urbstu:v:32:y:1995:i:9:p:1489-1503
    DOI: 10.1080/00420989550012366
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    References listed on IDEAS

    as
    1. Steven C. Bourassa, 1993. "The Rent Gap Debunked," Urban Studies, Urban Studies Journal Limited, vol. 30(10), pages 1731-1744, December.
    2. Mason Gaffney, 1969. "Land Rent, Taxation, And Public Policy," Papers in Regional Science, Wiley Blackwell, vol. 23(1), pages 141-154, January.
    3. Andersson, Roland & Samartin, Avelino, 1985. "An extension of Mohring's model for land rent distribution," Journal of Urban Economics, Elsevier, vol. 18(2), pages 143-160, September.
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    Cited by:

    1. Yasna Contreras & Thierry Lulle & Óscar Figueroa, 2017. "Cambios sociespaciales en las ciudades latinoamericanas: ¿procesos de gentrificación?," Books, Universidad Externado de Colombia, Facultad de Ciencias Sociales y Humanas, number 112, August.
    2. Schipper Sebastian, 2013. "Global-City-Formierung, Gentrifizierung und Grundrentenbildung in Frankfurt am Main," ZFW – Advances in Economic Geography, De Gruyter, vol. 57(1-2), pages 185-200, October.

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