Dynamic Housing Search Model Incorporating Income Changes, Housing Prices, and Life-Cycle Events
Publication: Journal of Urban Planning and Development
Volume 141, Issue 4
Abstract
Modeling housing search behavior is a crucial component of land use modeling. Land use modeling from a specific point of view shares close ties with the transport system. As a result, housing search behavior has become an attractive research topic to travel demand modelers and continues to be a topic of interest to urban planners, geographers, and economists. This paper presents a conceptual framework for long-term decisions of household members with a specific focus on residential relocation-related decisions. The reasons for movement and timing of movement are modeled in this paper using two approaches: (1) a competing hazard formulation, and (2) a conditional hazard and discrete choice model. Australian longitudinal data are used to develop the econometric models in which income change, property value, unemployment rate change, and demographic dynamics are available.
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© 2014 American Society of Civil Engineers.
History
Received: Nov 21, 2013
Accepted: Sep 15, 2014
Published online: Oct 17, 2014
Discussion open until: Mar 17, 2015
Published in print: Dec 1, 2015
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