Housing demand in the United States in the late nineteenth century: evidence from the Commissioner of Labor survey, 1889/1890

Article Abstract:

An analysis of homeownership and housing demand for about 6,800 American urban, industrial workers in the 1890s was done using data from the US Commissioner of Labor. A number of significant historical findings were revealed by the study. It was found that homeownership rates among workers in the 1890s varied significantly. The data from the Commissioner of Labor used for the study could also be used to measure relevant housing demand parameters. The decision to own a house was negatively affected by the value/rent ratios. The probability of homeownership and renter demand was positively affected by household income. The 1889-1890 study of homeownership in the US resembled homeownership studies in developing countries of the 1970s and 1980s.

History, 19th century AD

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An econometric model of housing price, permanent income, tenure choice, and housing demand

Article Abstract:

The determination of permanent income, housing price, housing demand, and tenure choice is addressed. The interactive effects among four stages of the model are incorporated in full housing demand elasticities. Income and price have key effects in the tenure choice equation. It is found that socio-demographic variables such as age have complicated results that can be lost when simpler forms of estimation are used. It is concluded that renter housing can have a complex effect on housing demand. Rises in rents can increase housing demand through the tenure choice decision, all other things being equal, even though real price elasticity for the renter housing is negative, conditional on tenure choice.

Analysis, Prices and rates, Housing surveys

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Functional form, sample selection, and housing demand

Article Abstract:

Housing demand is analyzed in terms of functional form and sample selection. Certain theories of urban economics suggest that reference incomes and prices for housing will vary with income and housing price elasticities. These theories are tested mathematically, and results indicate that sample truncation reveals downward biases in permanent income regressions, whereas income elasticities are shown to have a slightly upward bias.

Statistics, Study and teaching, Cities and towns

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