Ownership Duration in the Residential Housing Market: The Influence of Structure, Tenure, Household and Neighborhood Factors

Abstract

Duration, Housing, Urban, Tenure,

Housing sales in urban Beijing

“…There are some paper adopting survival or duration models in housing, mostly focusing on USA mortgage market (Vandell et al, 1993;2001;Ciochetti et al, 2003a,b;Lacour-Little and Malpezzi, 2003;Foote, Gerardi and Willen, 2008;Kau, Keenan and Li, 2011) or duration of rental vacancies in USA (Sternberg, 1994;Gabriel and Nothaft, 2001;Deng, Gabriel and Nothaft, 2003;Archer, Ling and Smith, 2010); moreover, the timing of land development in USA was also analysed (Cunningham, 2006). Papers outside USA include Bulan, Mayer andSomerville (2009) in Canada, Feijten andMulder (2010) in the Netherlands, and Ström (2010) Adopting a time framework to analyse survival models in housing, Vandell et al (1993) analyse individual commercial mortgage default with data from a major multi-line USA insurance company.…”

“…This traditional framework, however, does not allow for circumstantial conditions and product characteristics, which are known to play an important role in shaping housing demand, given the composite or differentiated nature of the services that comprise a housing market (Ström, 2010). Therefore, the demand for houses is derived from the demand for the various goods and services offered by a house market (Ben-Akiva and Lerman, 1985), adopting the Lancaster approach.…”

A cross-sectional exploration of household financial reactions and homebuyer awareness of registered sex offenders in a rural, suburban, and urban county.

“…Incorporation of neighborhood characteristics is especially crucial in a cross-sectional examination as they can explain a significant portion of the variance (Archer et al, 2010) as it did in the present study. Overall, spatial multilevel findings are in alignment with the premise of Shaw and McKay's (1942) Shaw and McKay's (1942) argument that neighborhoods with higher rates of minorities and poverty were also related to greater indicators of undesirable conditions.…”

“…Sale values of sold homes were consistently not related to the percentage of the neighborhood populations that resided at their residence for a year or more and the percentage of housing units. Emerging housing literature has commented on that renteroccupied housing are indicative of an urban community (Troy & Grove, 2008), with such housing units stimulants of higher property values in the surrounding areas (Archer et al, 2010). Given the unforeseen effects of an inverse relationship between indicators of residential stability, it serves as a warning of the construction of structural characteristics of neighborhoods as it may convolute the contribution per characteristics as evident of female-headed households.…”

“…The housing literature has demonstrated that the inclusion of neighborhood characteristics-especially in a cross-sectional examination-explained a significant portion of the variance (Archer, Ling, & Smith, 2010). Erroneous conclusions may have resulted from spurious results from the RSOhome sale value literature because there was no assessment of the underlying effects tied with neighborhood dynamics alongside the presence of RSOs (Agan & Prescott, 2014;Bitter, Mulligan, & Dall'erba, 2007).…”