The Cost of Renting versus Owning a Home

Shelton, John P.

doi:10.2307/3159610

Cited by 94 publications

(40 citation statements)

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“…In fact, his analysis assumes that "moves are exogenous to the decision of how much housing to consume" (p 108) 18 For homeowners, these latter costs include brokers' fees, the costs of title search, and other closing costs Empirical evidence suggests that for homeowners, these may be on the order of 10 to 20 percent of annual housing expenditures [Shelton 1968 The lack of perfect information implies that the mobility threshold and the search threshold may vary considerably, even for otherwise identical households with the same moving costs. This factor introduces a stochastic element into an otherwise deterministic model.…”

Section: A Synthesismentioning

confidence: 99%

Intra- Urban Residential Mobility: A Review and Synthesis

Quigley

Weinberg

1977

International Regional Science Review

266

130

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THIS PAPER PROVIDES A CRITICAL REVIEW AND SURVEY OF THE AVAILABLE EVIDENCE ON INTRA-URBAN HOUSEHOLD MOBILITY AND A SYNTHESIS OF THE THEORETICAL CONTRIBUTIONS OF SOCIAL SCIENTISTS TO UNDERSTANDING THE DETERMINANTS OF LOCAL MOBILITY. THE ANALYSIS ATTEMPTS TO RECONCILE THESE PERSPECTIVES AND THE EMPIRICAL EVIDENCE INTO A UNIFIED THEORY OF THE MOBILITY DECISION BASED ON MEASURABLE CONCEPTS, AND IT PRESENTS SOME IMPLICATIONS FOR EMPIRICAL RESEARCH.

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Section: A Synthesismentioning

confidence: 99%

Intra- Urban Residential Mobility: A Review and Synthesis

Quigley

Weinberg

1977

International Regional Science Review

266

130

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“…This term would be larger the shorter the household's holding period. This point has been noted by Shelton (1968) and emphasized by Johnson (1981).…”

mentioning

confidence: 90%

Home Ownership and Real House Prices: Sources of Change, 1965-85

Hendershott

1987

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Two phenomena characterized the housing market in the 1970s: a somewhat-disguised surge toward home ownership and a well-publicized sharp increase in the real price of housing. These movements were partially reversed in the first half of the l980s. In the "standard view", the 1970s changes are attributed to an interaction of the tax system and rising inflation. Given the disinflation of the 1980s, this explanation also seems consistent with the reversals in ownership and real prices. Recent work challenges the standard view. Inflation is said to disfavor home ownership, and real house prices are said to be determined largely by supply (cost), not demand, factors. This paper considers the data on home ownership and real house prices and evaluates the standard view visa -vis its challengers. Data from the l980s suggest that other factors (probably rising income for ownership and negative construction productivity growth for real prices) were responsible for at least half of the 1970s increase in ownership and real price.

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“…In tenure studies, the impact of variables in current tenure choice yields an anticipation of future mobility decision (Boehm 1981) . Shelton (1968) explained the tenure alternatives through the expected length of time the household will stay in a given location. The interaction of mobility and tenure is occurred by the transaction cost incurred in each occupying unit.…”

Section: Behavioral Pattern Of Mobilitymentioning

confidence: 99%