Discrimination by a profit-maximizing real estate broker in response to white prejudice

Article Abstract:

An adaption of Yinger's search model of real estate broker behavior is used to analyze the extent to which profit-maximizing brokers treat whites and blacks differently and to what extent they discriminate against blacks in the housing market. A model is developed for predicting the occurrence of housing discrimination under a number of different forms of white prejudice. Results of the research indicate that differences do exist between how blacks and whites are treated by brokers, and the differences artificially restrict the access blacks have to housing. Results also show that brokers may discriminate against blacks to maintain business from whites. Additionally, results indicate the necessity of educating brokers about fair housing laws.

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An empirical test of the efficiency of the housing market

Article Abstract:

The efficiency of the housing market, which represents approximately 45 percent of total tangible wealth in the U.S., is tested using a model developed within the research here reported. The market used to test the mathematical model developed is Philadelphia in 1975. Among the results of this research are suggestions that residential real estate transactions cost more than the transactions' excess returns can offset, and that arbitrage opportunities are nearly nonexistent in the housing market, due to transaction costs.

Models, Economic aspects, Housing, Housing research, Residential mobility, Housing surveys

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An empirical analysis of the determinants of intrajurisdictional property tax inequities

Article Abstract:

A statistical analysis of intrajurisdictional tax inequities indicates that, while such inequities exist, they appear to be random. A 1978 empirical study of Philadelphia's tax assessment errors, utilizing microdata, reveals that inequities are not neutral with regard to socioeconomic characteristics. For example, nonwhites are shown to pay a disproportionate share of total property taxes.

Social aspects, Property taxes, Property tax, Philadelphia

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