The Co-op Discount |
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Authors: | Goodman Allen C. Goodman John L. |
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Affiliation: | (1) Department of Economics, Wayne State University, Detroit, MI, 48202;(2) National Multi Housing Council, Washington, D.C, 20036 |
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Abstract: | Cooperative and condominium housing differ in several ways that might be expected to influence their pricing. Most but not all of these differences argue for a higher valuation for condominiums. Hedonic equations estimated on a national sample indicate that the price differential on the average condo/co-op unit in 1987 was 12%. Condos maintain a price premium under a variety of specifications, although its magnitude depends on the bundle of attributes being priced. |
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Keywords: | cooperative housing condominium house prices |
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