Econometric models of individual house prices

This thesis takes a theoretical and analytical look at the implicit prices of housing characteristics in a South Florida submarket. Chapter II analyzes some of the vast body of previous studies that employ Econometric Techniques. Chapter III presents the information revealed by an examination of South Florida data. Several different models are tested and compared. Locational differences between properties are measured and accounted for. Increasing and diminishing returns of certain house characteristics are considered. Chapter IV uses econometric models to analyze tax assessment bias and to test the efficiency of the housing market. Chapter V is a summary of the conclusions and recommendations generated by this analysis.