A Multiple-Attribute Housing Disequilibrium Model of Residential Mobility

Abstract

This paper presents a model of residential mobility to investigate the relationship between the socioeconomic characteristics of a household and housing dissatisfaction. The paper extends the microeconomic model of residential migration by incorporating the hedonic theory of housing prices. The proposed model is estimated by logistic regression with interaction terms, with data from a national longitudinal survey. It is shown that the model provides a statistically significant improvement in fit over existing approaches.