Tenure choice and condominium conversion

Michael J. Lea, Michael J. Wasylenko

Research output: Contribution to journalArticle

5 Scopus citations

Abstract

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.

Original languageEnglish (US)
Pages (from-to)127-144
Number of pages18
JournalJournal of Urban Economics
Volume14
Issue number2
DOIs
StatePublished - Sep 1983
Externally publishedYes

ASJC Scopus subject areas

  • Economics and Econometrics
  • Urban Studies

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