The applicability of self-reported home values in housing wealth inequality assessment
Evidence from an emerging country
Bibliographic Data
| ID | 11484252 |
|---|---|
| Authors | Mateusz Tomal (0000-0002-8393-1614, Krakow University of Economics, corresponding author) |
| Year | 2024 |
| Volume | 39 |
| Issue | 5 |
| Pages | 1364-1382 |
| Publication date | 2024-05-27 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Housing Studies (JOURNAL) |
| Journal identifiers | ISSN: 0267-3037 • E-ISSN: 1466-1810 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/02673037.2022.2123902 |
| OpenAlex | W4296907701 |
| Language | EN |
| Citations received | 4 |
| References cited | 60 |
One of the measures of housing wealth inequality is the property’s market value. In existing analyses, this figure is often a subjective value determined by homeowners. Little is known about the validity of using this type of data as a substitute for market value in inequality studies. Therefore, this paper aims to examine whether self-reported home values can be applied to evaluate housing wealth inequality. In order to achieve this goal, first, a theoretical framework on the irrelevance of valuation bias for the assessment of housing wealth inequality was developed, followed by an empirical analysis. The latter included gathering information on subjective flat values and their characteristics in Warsaw. Next, a geographically weighted regression was calibrated to calculate the market value of these dwellings. Then, using the Gini coefficient, housing wealth inequality levels were estimated separately for subjective and objective home values. The results revealed that the former could serve as a very good proxy for the latter in housing wealth inequality analysis. The findings hold across almost all identified subgroups based on respondents’ gender, age, income, wealth, education and employment status. Finally, recommendations were formulated for public institutions and housing research
Demographic economics · Econometrics · Economic inequality · Economics · Gini coefficient · Income inequality metrics · Inequality · Market value · Order (exchange · Proxy (statistics · Public economics · Statistics · Valuation (finance · Value (mathematics · Housing Market and Economics · Mathematics · Spatial and Panel Data Analysis · Urban, Neighborhood, and Segregation Studies · Finance
(Mis)perceptions of inequality
Loss Aversion and Seller Behavior
Toward a positive theory of consumer choice
Geographically Weighted Regression
Modelling Housing Rents Using Spatial Autoregressive Geographically Weighted Regression
Individual-level loss aversion in riskless and risky choices
The private rental housing market before and during the Covid-19 pandemic
Home is where the heart is
Housing wealth inequality in urban China
Effects of housing wealth on subjective well-being in urban China
Spatial and time effect of subway on property prices
Equity Inequity
Simulating trends in housing wealth inequality in post-socialist Czech society
Housing ownership and housing wealth
Housing wealth inequality in China
Income inequality measures
Alternative value estimates of owner-occupied housing
Spatial Heterogeneity in Hedonic House Price Models
Equal in Incomes, Unequal in Wealth? Housing Wealth Inequalities in the Czech Republic
The Value of Squatter Dwellings in Developing Countries
Anomalies
Classes and Castles
Explaining the Endowment Effect through Ownership
Change of Housing Inequality in Urban China and Its Decomposition
| Unique citing works | 4 |
|---|---|
| Citations per year | 1,33 |
| Citation span | 2023 - 2026 (4) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 3 |