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Utilisation of the Stock of Owner-occupied Single-family Houses: An Econometric Analysis

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  • Viggo Nordvik

    (Norwegian Building Research Institute, PO Box 123, Blindern, N-0314, Oslo, Norway, Viggo.Nordvik@byggforsk.no)

Abstract

In many 'single-family' houses, the owner has the option to let a part of the house to another party or to use the entire house for her own purposes. This paper uses a stochastic utility framework to provide a theoretical analysis of this dichotomous choice. The paper also shows how an empirical model that is consistent with the theoretical model can be formulated and estimated using suitable parameterisation. Within the empirical analysis, we test, and reject, the hypothesis of locally linear utility functions that are frequently used in models of discrete housing choices. Furthermore, the estimated model is used to show how the tax treatment of owner-occupiers affects the utilisation of the stock of single-family houses.

Suggested Citation

  • Viggo Nordvik, 2000. "Utilisation of the Stock of Owner-occupied Single-family Houses: An Econometric Analysis," Urban Studies, Urban Studies Journal Limited, vol. 37(7), pages 1171-1183, June.
    • Handle: RePEc:sae:urbstu:v:37:y:2000:i:7:p:1171-1183
    DOI: 10.1080/00420980020080081
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    References listed on IDEAS

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    1. Arnott, Richard, 1989. "Housing Vacancies, Thin Markets, and Idiosyncratic Tastes," The Journal of Real Estate Finance and Economics, Springer, vol. 2(1), pages 5-30, February.
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    4. Anas, Alex, 1980. "A probabilistic approach to the structure of rental housing markets," Journal of Urban Economics, Elsevier, vol. 7(2), pages 225-247, March.
    5. Colin Read, 1988. "Advertising and Natural Vacancies in Rental Housing Markets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 16(4), pages 354-363, December.
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