{"title":"房屋改善和增值率反映在房屋价格指数","authors":"A. Leventis","doi":"10.2139/ssrn.992922","DOIUrl":null,"url":null,"abstract":"The repeat-transactions model that is used in the construction of OFHEO’s house price index (HPI) does not perfectly control for changes in the average condition of the housing stock. If the value of home improvements is not exactly offset by the effects of home depreciation, the HPI could reflect more or less appreciation than would be reported in a true “constant quality” index. This paper attempts to measure the annual amount of “quality drift” embedded within the index.","PeriodicalId":172652,"journal":{"name":"ERN: Market Structure (Topic)","volume":"115 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2007-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":"{\"title\":\"Home Improvements and Appreciation Rates Reflected in the OFHEO House Price Index\",\"authors\":\"A. Leventis\",\"doi\":\"10.2139/ssrn.992922\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The repeat-transactions model that is used in the construction of OFHEO’s house price index (HPI) does not perfectly control for changes in the average condition of the housing stock. If the value of home improvements is not exactly offset by the effects of home depreciation, the HPI could reflect more or less appreciation than would be reported in a true “constant quality” index. This paper attempts to measure the annual amount of “quality drift” embedded within the index.\",\"PeriodicalId\":172652,\"journal\":{\"name\":\"ERN: Market Structure (Topic)\",\"volume\":\"115 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2007-06-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"2\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"ERN: Market Structure (Topic)\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.992922\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"ERN: Market Structure (Topic)","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.992922","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Home Improvements and Appreciation Rates Reflected in the OFHEO House Price Index
The repeat-transactions model that is used in the construction of OFHEO’s house price index (HPI) does not perfectly control for changes in the average condition of the housing stock. If the value of home improvements is not exactly offset by the effects of home depreciation, the HPI could reflect more or less appreciation than would be reported in a true “constant quality” index. This paper attempts to measure the annual amount of “quality drift” embedded within the index.
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