The evolution of choice set formation in dwelling and location with rising prices: A decadal panel analysis in the Greater Toronto Area
Home location choice is based on both the characteristics of the dwelling (e.g., size, style, number of bedrooms) and the location (e.g., proximity to work, quality of schools, accessibility). Recent years have seen a steep increase in the price of housing in many major cities. In this research, we...
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University of Minnesota
2021
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oai:doaj.org-article:aaf3bdbe88cf46ef84d177c08da21e3e2021-11-23T05:59:03ZThe evolution of choice set formation in dwelling and location with rising prices: A decadal panel analysis in the Greater Toronto Area10.5198/jtlu.2021.18541938-7849https://doaj.org/article/aaf3bdbe88cf46ef84d177c08da21e3e2021-11-01T00:00:00Zhttp://www.jtlu.org/index.php/jtlu/article/view/1854https://doaj.org/toc/1938-7849 Home location choice is based on both the characteristics of the dwelling (e.g., size, style, number of bedrooms) and the location (e.g., proximity to work, quality of schools, accessibility). Recent years have seen a steep increase in the price of housing in many major cities. In this research, we examine how these price increases are affecting the types of dwelling and locations considered by households. A large sample of real estate listings from 2006 and 2016 from the Greater Toronto Area is used to develop the empirical models. Two recently developed discrete choice models are used in the study: a nested logit model with latent class feedback (LCF) and a semi-compensatory independent availability logit (SCIAL) model. A method of alternative aggregation is proposed to overcome the computational hurdle that often impedes the estimation of choice set models. We find a significant increase in the probability of larger households considering townhouses and apartments over detached single-family dwellings between 2006 and 2016. Jason HawkinsKhandker Nurul HabibUniversity of MinnesotaarticleTransportation engineeringTA1001-1280Transportation and communicationsHE1-9990ENJournal of Transport and Land Use, Vol 14, Iss 1 (2021) |
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Transportation engineering TA1001-1280 Transportation and communications HE1-9990 |
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Transportation engineering TA1001-1280 Transportation and communications HE1-9990 Jason Hawkins Khandker Nurul Habib The evolution of choice set formation in dwelling and location with rising prices: A decadal panel analysis in the Greater Toronto Area |
| description |
Home location choice is based on both the characteristics of the dwelling (e.g., size, style, number of bedrooms) and the location (e.g., proximity to work, quality of schools, accessibility). Recent years have seen a steep increase in the price of housing in many major cities. In this research, we examine how these price increases are affecting the types of dwelling and locations considered by households. A large sample of real estate listings from 2006 and 2016 from the Greater Toronto Area is used to develop the empirical models. Two recently developed discrete choice models are used in the study: a nested logit model with latent class feedback (LCF) and a semi-compensatory independent availability logit (SCIAL) model. A method of alternative aggregation is proposed to overcome the computational hurdle that often impedes the estimation of choice set models. We find a significant increase in the probability of larger households considering townhouses and apartments over detached single-family dwellings between 2006 and 2016.
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| format |
article |
| author |
Jason Hawkins Khandker Nurul Habib |
| author_facet |
Jason Hawkins Khandker Nurul Habib |
| author_sort |
Jason Hawkins |
| title |
The evolution of choice set formation in dwelling and location with rising prices: A decadal panel analysis in the Greater Toronto Area |
| title_short |
The evolution of choice set formation in dwelling and location with rising prices: A decadal panel analysis in the Greater Toronto Area |
| title_full |
The evolution of choice set formation in dwelling and location with rising prices: A decadal panel analysis in the Greater Toronto Area |
| title_fullStr |
The evolution of choice set formation in dwelling and location with rising prices: A decadal panel analysis in the Greater Toronto Area |
| title_full_unstemmed |
The evolution of choice set formation in dwelling and location with rising prices: A decadal panel analysis in the Greater Toronto Area |
| title_sort |
evolution of choice set formation in dwelling and location with rising prices: a decadal panel analysis in the greater toronto area |
| publisher |
University of Minnesota |
| publishDate |
2021 |
| url |
https://doaj.org/article/aaf3bdbe88cf46ef84d177c08da21e3e |
| work_keys_str_mv |
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