Modelling Housing Market Search

This book, published in 1982, explores econometric modeling in the housing market, including the use of search models, and discusses the importance of racial differences, spatial aspects, and information provision in buyer behavior. It offers an innovative and imaginative approach to understanding individual behavior in complex contexts.

Format: Hardback
Length: 240 pages
Publication date: 01 December 2021
Publisher: Taylor & Francis Ltd

Originally published in 1982, this comprehensive book delves into the realm of econometric modelling in the housing market, encompassing research that has extended to the application of search models. Its extensive coverage encompasses various subjects, including the significance of racial differences, the spatial dimensions of residential search, and the impact of information provision on buyer behavior. By employing a rigorous analytical framework, conducting empirical tests, and engaging in speculative discussions about the role of agents in the search process, the book offers an innovative and imaginative approach to understanding the intricate dynamics of individual behavior within complex contexts, such as the urban housing market.

The significance of racial differences in the housing market is explored, shedding light on how they shape the search and purchasing decisions of individuals. The authors examine how racial discrimination, segregation, and neighborhood characteristics influence the availability and affordability of housing options for different racial groups. This analysis highlights the need for policies and interventions to promote fair housing and equal access to housing opportunities for all individuals, regardless of their race.

The spatial aspects of residential search are also examined, emphasizing the importance of location and proximity to amenities, schools, and employment centers. The authors discuss how individuals weigh these factors when making housing decisions and how they affect their quality of life and well-being. This research sheds light on the spatial dynamics of the housing market and the strategies that developers and policymakers can employ to create sustainable and inclusive communities.

Information provision plays a crucial role in the housing market, influencing buyer behavior and decision-making processes. The authors explore how different types of information, such as property listings, market reports, and agent recommendations, affect the search and purchase decisions of individuals. They examine the mechanisms through which information is disseminated, the factors that influence its credibility, and the ways in which it can be used to inform and empower buyers. This research highlights the importance of transparency, consumer education, and effective information dissemination in promoting fair and efficient housing markets.

The role of agents in the housing market is also explored, emphasizing their significance in facilitating transactions and navigating the complex market dynamics. The authors discuss the various types of agents, such as real estate brokers, agents, and mortgage lenders, and their roles in the search, negotiation, and closing processes. They examine the incentives and motivations that agents have and how they interact with buyers and sellers to achieve their goals. This research sheds light on the dynamics of agent-client relationships and the potential for agent-based interventions to improve the efficiency and fairness of the housing market.

In conclusion, this book provides a comprehensive and insightful examination of econometric modelling in the housing market. By exploring the importance of racial differences, spatial aspects, information provision, and the role of agents, it offers valuable insights into the complex dynamics of individual behavior and decision-making processes in this market. The innovative and imaginative approach employed by the authors provides a valuable contribution to the field of urban planning, housing policy, and economics, and has the potential to inform and improve the practice of understanding and addressing the challenges of urban housing markets.

Weight: 612g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032021430