Changing Rates of Return on Rental Property and Condominium Conversions
In the 1970s about 350,000 housing units in multi-family structures in the US were converted to a condominium or co-operative form of ownership. This paper shows how changes in both rents and housing prices influence the expected rate of return on rental property and therefore the probability of conversion. A minimum logit chi-square model was applied to data from 34 metropolitan areas to estimate the effects of these changes. The evidence suggests that changes in housing prices had a greater effect on conversions than changes in the expected net return on rental property.
Year of publication: |
1988
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Authors: | Crone, Theodore M. |
Published in: |
Urban Studies. - Urban Studies Journal Limited. - Vol. 25.1988, 1, p. 34-42
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Publisher: |
Urban Studies Journal Limited |
Saved in:
Online Resource
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