Big house, little house relative size and value
Turnbull, Geoffrey K.
Big house, little house relative size and value - 2006 - Real Estate Economics 34(3) 2006, 439-456(18) .
Examines the issue of which the market values more highly: the largest house in a neighbourhood of small houses or the smallest house in a neighbourhood of large houses. Using house sales data from one local government area, this problem is looked at in terms three hypotheses: atypicality, the conspicuous consumption effect and the tax capitalization effect. Concludes that of these theories, the estimates are consistent with the fiscal capitalization theory, which leads to lower prices for larger houses and higher prices for smaller houses in the neighbourhood, and/or longer and shorter marketing times respectively.
UNITED STATES
Big house, little house relative size and value - 2006 - Real Estate Economics 34(3) 2006, 439-456(18) .
Examines the issue of which the market values more highly: the largest house in a neighbourhood of small houses or the smallest house in a neighbourhood of large houses. Using house sales data from one local government area, this problem is looked at in terms three hypotheses: atypicality, the conspicuous consumption effect and the tax capitalization effect. Concludes that of these theories, the estimates are consistent with the fiscal capitalization theory, which leads to lower prices for larger houses and higher prices for smaller houses in the neighbourhood, and/or longer and shorter marketing times respectively.
UNITED STATES