URBAN LOCATION AND HOUSING PRICE APPRECIATION

Mitchel B. Rachlis and Anthony Yezer

Papers in Regional Science, 1985, vol. 57, issue 1, 155-164

Abstract: ABSTRACT The rate of appreciation in the asset price of housing is shown to vary systematically with location. Differences in appreciation rates occur because asset prices depend on rates of rental price changes, and the time pattern of rental price changes should vary systematically. Based on theoretical arguments in the literature, rates of rental price appreciation should vary with location, age, and size of the unit. The hypothesis that these factors are also associated with differences in the rate of asset price change is tested using data from five SMSAs. The hypothesis is confirmed for distance from the city center and age of the unit but not for size of the housing unit.

Date: 1985
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.1111/j.1435-5597.1985.tb00864.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:presci:v:57:y:1985:i:1:p:155-164

Access Statistics for this article

Papers in Regional Science is currently edited by Jouke van Dijk

More articles in Papers in Regional Science from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().