A Note on the Bias in House Price Capitalization Models

Terrence M. Clauretie

Real Estate Economics, 1983, vol. 11, issue 4, 521-524

Abstract: Recent research efforts concerning the capitalization of low‐rate, seller‐supplied financing have employed hedonic pricing models that may produce biased estimates of the capitalization process. The bias results when properties sold with owner financing are included in the researcher's sample. This note discusses the nature of the bias and suggests a possible solution.

Date: 1983
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