Purpose – This paper attempts to fill two gaps in the homeownership literature identified by Dietz and Haurin: homeownership in less developed countries and the effects of race, ethnicity and income on tenure choice. Design/methodology/approach – United Nations data from 1993 and 1998 are...

Two marketing schemes that provide protection against downside price risk are examined. The buy‐back guarantee allows the property purchaser to sell the property back to the developer at the original purchase price, while the guaranteed appreciation plan assures the buyers of a minimum price...

A game‐theoretic model of moral hazard associated with unobservable builder effort is postulated to examine the effectiveness of homeowner warranties and building code enforcement by local government in assuring desired builders’ effort. Builders have an incentive to claim and charge for...

Existing home sellers may be aware of defects in the home that are not observable to the untrained eye of a buyer. Sellers may not disclose the defects in order to receive a higher price. Home warranties for existing homes appear to provide protection against defects. However, it is not clear...

Upgrading programmes that aim to improve living conditions and enhance property values are often evaluated qualitatively. We propose a methodology for determining the market impacts of such projects and apply it for assessing the Main Upgrading Programme (MUP) in Singapore. This is a systematic...