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Housing Inventory Change and the Role of Existing Structures, 1961–1985

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  • Patric H. Hendershott
  • Marc T. Smith

Abstract

This paper makes two contributions. First, an internally consistent annual data set is constructed for the housing‐units identity. For the 1961–85 period, data are computed for completions, mobile home placements, the change in households, the change in vacancies, and, residually, net other additions (non‐new construction additions less losses). Our computed net other additions data for 1974 to 1980 are shown to be comparable to those implicit in the Annual Housing Survey data. Second, evidence is provided that net other additions play a major role in the short‐run equilibration of the demand and supply for housing units. Our evidence suggests that, on average, a surge in household formations is half satisfied by reduced losses or non‐new construction additions during the concurrent year.

Suggested Citation

  • Patric H. Hendershott & Marc T. Smith, 1988. "Housing Inventory Change and the Role of Existing Structures, 1961–1985," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 16(4), pages 364-378, December.
    • Handle: RePEc:bla:reesec:v:16:y:1988:i:4:p:364-378
    DOI: 10.1111/1540-6229.00461
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    References listed on IDEAS

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    1. John Weicher, 1980. "Housing: Federal Policies and Programs," Books, American Enterprise Institute, number 650583, September.
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    Cited by:

    1. Marion Steele, 1993. "Conversions, Condominiums and Capital Gains: The Transformation of the Ontario Rental Housing Market," Urban Studies, Urban Studies Journal Limited, vol. 30(1), pages 103-126, February.

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