CASR The University of Adelaide Australia
spacer
spacer

text zoom: S | M | L

Further Information Contact:

Centre for Automotive Safety Research
THE UNIVERSITY OF ADELAIDE
SA 5005 AUSTRALIA
Email
Location

Telephone: +61 8 8313 5997
Facsimile: +61 8 8232 4995

You are here: 

Publication Details

TitleInconsistent effects of a feature on home prices — Lang’s two-market explanation
AuthorsHutchinson TP
Year2008
TypeJournal Article
AbstractIn his 2005 article “Valuing the Suburbs: Why Some ‘Improvements’ Lower Home Prices,” Robert E. Lang proposes an explanation of why improvements to a home may either add to or detract from its value. He suggests a dual housing market: “one for conventional low-density suburbs, and one for cities and denser suburbs” (8). The former values features implying a natural or less intense use, and the latter values features adding “intensity or utility to a property” (8). This article reinterprets Lang’s explanation as an example of interaction (something having a different effect under one condition than it does under another) arising via summation followed by a nonlinear function of the result. An alternative explanation in terms of the fit between characteristics of a home and its location is also noted.
Journal TitleHousing Policy Debate
Journal Volume (Issue)19(3)
Page Range573-582
NotesAvailable from http://www.mi.vt.edu/data/files/hpd%2019.3/hutchinson_article_w.pdf

Reference
Hutchinson TP (2008) 'Inconsistent effects of a feature on home prices — Lang’s two-market explanation', Housing Policy Debate, 19(3), pp 573-582.