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- Title
Evaluating the Risk of Housing Investment.
- Authors
Jud, G. Donald; Roulac, Stephen E.; Winkler, Daniel T.
- Abstract
This article evaluates the patterns of housing risk and returns in Greensboro, NC, and Houston, TX. It shows the price risk facing the average homeowner is high and varies substantially among cities. The return on an individual housing transaction is positively associated with national returns, but the association is not strong, which indicates a high level of nonsystematic risk in housing transactions. The probability of a loss on sale in the average housing transaction is found to be large and inversely related to national housing returns and to local employment growth. It also is strongly influenced by location and other housing features.
- Publication
Appraisal Journal, 2005, Vol 73, Issue 4, p370
- ISSN
0003-7087
- Publication type
Academic Journal