Atypicality and the Natural Vacancy Rate Hypothesis

G. Donald Jud and James Frew

Real Estate Economics, 1990, vol. 18, issue 3, 294-301

Abstract: This paper formulates and tests a model of rent change based on the natural vacancy rate hypothesis. It incorporates the Haurin [6] hypothesis in which the natural rate for particular units is determined by their atypicality. Estimates of the model indicate a natural rate of 6.5%. However, the rate is shown to vary systematically across individual units: the more atypical an apartment unit, the higher the natural rate.

Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:bla:reesec:v:18:y:1990:i:3:p:294-301

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