Housing demand and community choice: an empirical analysis
Article Abstract:
New estimates of the demand for owner-occupied housing were developed by incorporating the household's concurrent choice of the residential community, quantity of housing services consumed and whether to own or rent. This econometric model, which is different from earlier representations because it integrates the first choice of community, was tested using a sample of households in the five-county Tampa, FL, excluding elderly households. By including the community choice, the price elasticity of demand increased and the differential between white and comparable nonwhite households decreased. Therefore, correcting for community choice is as relevant as correcting for tenure, permanent income and the federal income tax code.
Publication Name: Journal of Urban Economics
Subject: Government
ISSN: 0094-1190
Year: 1997
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Tenure choice and housing demand in Japan
Article Abstract:
Results are presented of an empirical analysis of tenure choice and housing demand in Japan, utilizing household-level rather than grouped data. Highly robust estimates indicate that in Japan, housing demand is elastic with regard to permanent income, but not elastic with regard to price. The price elasticity estimate of -0.8 is comparable to that in other countries, while the income elasticity estimate of 1.4 is much higher, possibly due to greater accuracy of the income variable than in other studies. Analysis also indicates that tenure choice and housing demand decisions are not made simultaneously.
Publication Name: Journal of Urban Economics
Subject: Government
ISSN: 0094-1190
Year: 1988
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