Can Internet Ads Serve as an Indicator of Homeownership Rates?

Abstract

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractIn this paper, we propose an indicator of the homeownership rate based on Internet ads offering the housing for rent and sale. We constructed the HOR estimate using the number of ads in four different markets (flats for rent, flats for sale, houses for rent, and houses for sale). Our HOR indicator was tested using data of German NUTS1 and planning (ROR) regions. The correlation between our estimate of the HOR and the alternative HOR figures varies between 0.834 and 0.874 at NUTS1 level and is 0.761 at the ROR level. All correlation coefficients are statistically significant. Our HOR estimate is particularly highly correlated with the official HOR figures. Thus, it is shown that our Internet-based indices could serve as a good indicator of the homeownership rate in German regions.

Internet-Based Hedonic Indices of Rents and Prices for Flats: Example of Berlin

“…We therefore designed a matching algorithm in order to minimize the number of duplicates. For more details on the algorithm see Kholodilin and Mense (2011).…”

“…For more details on this algorithm see Kholodilin and Mense (2011). Table 3 The distribution of flats for sale and for rent by the floor and type of flat is very similar.…”

The market value of energy efficiency in buildings and the mode of tenure

“… 3. For more details on the identification of duplicates and the probability of the physical existence of a ‘non-existent’ dwelling, see Kholodilin and Mense (2011). …”

Urban House Prices: A Tale of 48 Cities

“…This problem is particularly acute in case of houses for sale. The detailed examination of the information contained in the ads, including the textual analysis as in Kholodilin and Mense (2011), could permit alleviating the problem. It is, however, a very time-consuming exercise and is not carried out here.…”