The Impact of Housing Market Conditions on Residential Property Upkeep

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This article assesses the impact of housing market conditions on the theoretically motivated and empirically observed negative relationship between loan to value ratios and home maintenance expenditures.

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41 p.

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Leonard, Tammy October 22, 2012.

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  • Leonard, Tammy University of Texas at Dallas; University of North Texas

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Description

This article assesses the impact of housing market conditions on the theoretically motivated and empirically observed negative relationship between loan to value ratios and home maintenance expenditures.

Physical Description

41 p.

Notes

Abstract: This paper assesses the impact of housing market conditions on the theoretically
motivated and empirically observed negative relationship between loan to value ratios
and home maintenance expenditures. If the relationship is causal, then a down housing
market will result in significantly decreased upkeep in the housing stock. The large rise
and fall in home prices during the 2001-2009 period allows a unique opportunity to
analyze the response of homeowners to changing housing market conditions. Data from
the American Housing Survey is analyzed to confirm previous work that a negative
relationship exists between loan to value ratios and routine maintenance expenditures;
however, this relationship does not move in the expected direction when examined along
with temporal variations in market conditions. Panel analysis reveals a more complex
story. Households most likely to be at risk for default do decrease maintenance
expenditures when default risk increases, but other households actually increased
maintenance expenditures when the housing market conditions became less favorable.

This is an Accepted Manuscript of an article published by Taylor & Francis in Housing Studies on October 22, 2012, available online: http://www.tandfonline.com/doi/abs/10.1080/02673037.2013.729265.

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  • Housing Studies, 2013. New York, NY: Taylor & Francis

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Publication Information

  • Publication Title: Housing Studies
  • Volume: 28
  • Issue: 1
  • Pages: 33-56
  • Peer Reviewed: Yes

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UNT Scholarly Works

Materials from the UNT community's research, creative, and scholarly activities and UNT's Open Access Repository. Access to some items in this collection may be restricted.

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Submitted Date

  • July 15, 2011

Accepted Date

  • February 27, 2012

Creation Date

  • October 22, 2012

Added to The UNT Digital Library

  • Jan. 23, 2018, 5:28 a.m.

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Leonard, Tammy. The Impact of Housing Market Conditions on Residential Property Upkeep, article, October 22, 2012; New York, New York. (https://digital.library.unt.edu/ark:/67531/metadc1062054/: accessed March 19, 2019), University of North Texas Libraries, Digital Library, https://digital.library.unt.edu; crediting UNT College of Arts and Sciences.