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Business Geography and New Real Estate Market Analysis.$
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Grant Ian Thrall

Print publication date: 2002

Print ISBN-13: 9780195076363

Published to Oxford Scholarship Online: November 2020

DOI: 10.1093/oso/9780195076363.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 27 February 2021

Housing and Residential Communities

Housing and Residential Communities

Chapter:
5 Housing and Residential Communities
Source:
Business Geography and New Real Estate Market Analysis.
Author(s):

Grant Ian Thrall

Publisher:
Oxford University Press
DOI:10.1093/oso/9780195076363.003.0009

Housing occupies about 70 percent of the land area of a typical city. That land area is not randomly distributed, but instead follows regular spatial patterns; these patterns are sectorial and radial (see Hoyt 1939; chapter 2). These geographic patterns form housing submarkets. Specific demographic groups are attracted to housing in those submarkets. As there are many kinds of demographic characteristics of households, there are also many types of housing, and many housing submarkets. Housing submarkets include downtowns, middle-burbs, suburbs; high income; middle income, and low income; new development, mixed use, older development, and mixed new infill with older development; apartments, condominiums; townhouses, high rises, and single-family dwellings. The market analyst makes recommendations on which type of development will be most successful in which submarket and on which submarket would be appropriate for a particular type of development (see Sumichrast and Seldin 1977). Few people today choose to live without the benefit of some type of housing. The choice and availability of what type of housing to live in depends on a complex interaction of many factors, including culture, the natural and built environment, technological scale of society, government, income, stage of life cycle, economics of building construction, and knowledge and imagination of those building the housing. This chapter presents a broad overview of housing market analysis. In the overview, the determinants to demand and supply of housing are presented (See also Harvey, 1992). There is a broad overview of forecasting procedures and methodologies, the methods for projecting absorption rate, housing demand, and competitive supply, and how sales prices and rental prices might be determined. In the last quarter of the nineteenth century, upper-middle-income urban households in the United States and Canada often lived in what are today commonly referred to as Victorian houses. These houses were designed for multigenerational living, including grandparents as the head of household, their children, and their grandchildren. Aunts, uncles, and cousins might have lived in the same dwelling. All the family subunits contributed to the finances of maintaining the house. This provided social security to the elder members of the household, and inexpensive yet high-quality living conditions for the other family members.

Keywords:   ArcView, Community Reinvestment Act, DVAR, Eisenhower, FHA Loans, Levitt-like towns, Spatial Analyst, absorption rates, bandwagon effect, cascade GIS

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