Lisi, Gaetano (2012): Home seekers in the housing market.
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There are two types of home seekers in this housing market matching model: the homeless who search for a dwelling both in the rental market and in the homeownership market simultaneously; and the home seekers in the renter (tenant) state who want to buy a home and only search in the homeownership market. The search process leads to several types of matching and in turn this implies different prices of equilibrium. Furthermore, the search process connects the rental market with the homeownership market. Hence, this simple model is able to explain both the relationship between the rental price and the selling price and the price dispersion which exists in the housing market, relying only on the different states of agents in the search process.
|Item Type:||MPRA Paper|
|Original Title:||Home seekers in the housing market|
|Keywords:||rental market; homeownership market; housing price dispersion|
|Subjects:||J - Labor and Demographic Economics > J6 - Mobility, Unemployment, and Vacancies > J63 - Turnover; Vacancies; Layoffs
R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R2 - Household Analysis > R21 - Housing Demand
R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R3 - Real Estate Markets, Production Analysis, and Firm Location > R31 - Housing Supply and Markets
|Depositing User:||Gaetano Lisi|
|Date Deposited:||03. Mar 2012 19:02|
|Last Modified:||20. Feb 2013 15:26|
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