This paper tests for the existence of short-run equilibrium in the urban housing market in Metropolitan Toronto. The alternative hypothesis is the housing market segmented with respect to locational and structural attributes. We found insignificant differences in attribute prices across...

In this paper, we have empirically estimated demand equations for housing attributes, using a two-step approach in conformity with the procedure proposed by Sherwin Rosen. The identification problem inherent in Rosen's procedure has been avoided by estimating separate equations for distinct...