TY - JOUR
T1 - Tenure choice and condominium conversion
AU - Lea, Michael J.
AU - Wasylenko, Michael J.
N1 - Copyright:
Copyright 2014 Elsevier B.V., All rights reserved.
PY - 1983/9
Y1 - 1983/9
N2 - In this paper, we examine the tenure choice decisions of households involved in the condominium conversion process. We apply a model of tenure choice selection to two separate samples; preconversion residents and postconversion residents. We find that the primary factors influencing homeownership in general, income and relative prices, are also strong influences in determining condominium ownership. However, the tenure choice decisions of preconversion residents, who are confronted with a forced choice, are more heavily influenced by income and expected mobility. Post conversion tenure choice varies more with demographic factors and is more price elastic in nature.
AB - In this paper, we examine the tenure choice decisions of households involved in the condominium conversion process. We apply a model of tenure choice selection to two separate samples; preconversion residents and postconversion residents. We find that the primary factors influencing homeownership in general, income and relative prices, are also strong influences in determining condominium ownership. However, the tenure choice decisions of preconversion residents, who are confronted with a forced choice, are more heavily influenced by income and expected mobility. Post conversion tenure choice varies more with demographic factors and is more price elastic in nature.
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U2 - 10.1016/0094-1190(83)90018-9
DO - 10.1016/0094-1190(83)90018-9
M3 - Article
AN - SCOPUS:48749143525
VL - 14
SP - 127
EP - 144
JO - Journal of Urban Economics
JF - Journal of Urban Economics
SN - 0094-1190
IS - 2
ER -