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- W1938915906 abstract "There are two generally accepted methods for valuing the services of owner occupied housing (OOH): the rental equivalence method and the user cost method. The rental equivalence method values OOH services by the market rent that can be obtained for the dwelling unit. The user cost method for valuing OOH services looks mainly at the financial opportunity costs associated with owning and living in the dwelling unit. In this context, the report is organized as follows: section one gives introduction. Section two briefly reviews user cost theory for a general consumer durable. Section three considers the specific problems associated with constructing user costs for a dwelling unit. Section four notes that there is a third approach to the valuation of OOH services: namely, the opportunity cost approach. Section five indicates that a hedonic regression on readily available real estate data can accomplish this decomposition. Section six notes that the problems associated with constructing housing price comparisons are more difficult in the context of across country comparisons than they are in the context of normal time series comparisons for dwelling units within a country. Section seven suggests a way forward to make better international comparisons of housing services for international comparison program (ICP) 2011." @default.
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- W1938915906 date "2010-02-19" @default.
- W1938915906 modified "2023-09-26" @default.
- W1938915906 title "Owner occupied housing : notes on the treatment of housing in the national accounts and the ICP - second technical advisory group meeting (February 17-19, 2010)" @default.
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