The Effects of Assumption Financing Across Housing Price Categories
Vinod B. Agarwal and
Richard A. Philips
Real Estate Economics, 1985, vol. 13, issue 1, 48-57
Abstract:
This study employs a standard housing valuation model to analyze the capitalization of below‐market financing across housing price categories. The study also investigates the effect of secondary financing on housing prices and the effect of the expected holding period on discount capitalization. Using a randomly selected sample of 1981–82 housing transactions the study finds: the discount associated with below‐market financing is inversely related to the absolute level of housing prices; secondary financing bears no systematic relationship to housing values; and discount capitalization is inversely related to the expected holding period.
Date: 1985
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https://doi.org/10.1111/1540-6229.00340
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Persistent link: https://EconPapers.repec.org/RePEc:bla:reesec:v:13:y:1985:i:1:p:48-57
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