Abstract
In this chapter, the monocentric urban model due to DiPasquale and Wheaton (1996) is outlined with a view to explain how prices are maintained across an urban housing area. This is extended across space, buyers, and quality tiers. A discussion of cycles in economic variables in general and property in particular follows.
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Gray, D. (2017). Housing Market Theory. In: Cycles in the UK Housing Economy. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-63348-0_3
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DOI: https://doi.org/10.1007/978-3-319-63348-0_3
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