Abstract

http://ssrn.com/abstract=1943319
 
 

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Pet Policy and Housing Prices: Evidence from the Condominium Market


Zhenguo Lin


California State University, Fullerton - Department of Finance

Marcus T. Allen


Florida Atlantic University - Finance & Real Estate

Charles C. Carter


Florida Atlantic University

October 8, 2011

Journal of Real Estate Finance and Economics, Forthcoming

Abstract:     
This paper examines the economic impact of restrictions against keeping domestic pets in residential dwellings. Using a large data sample of condominium sales, we empirically estimate price effects associated with pet restrictions. Our results suggest that an unrestricted pet policy creates a significant premium in condominium price, along with discounts for condominiums that do not allow pets or have pet restrictions. This finding is useful for policy makers, developers of new condominium projects, and condominium owner associations in their decisions to establish or alter laws and regulations regarding restrictions on pet owner residents.

Number of Pages in PDF File: 20

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Date posted: October 14, 2011  

Suggested Citation

Lin, Zhenguo and Allen, Marcus T. and Carter, Charles C., Pet Policy and Housing Prices: Evidence from the Condominium Market (October 8, 2011). Journal of Real Estate Finance and Economics, Forthcoming. Available at SSRN: http://ssrn.com/abstract=1943319

Contact Information

Zhenguo Lin (Contact Author)
California State University, Fullerton - Department of Finance ( email )
Fullerton, CA 92835
United States
6572787929 (Phone)
HOME PAGE: http://business.fullerton.edu/finance/zlin/
Marcus Tillman Allen
Florida Atlantic University - Finance & Real Estate ( email )
2912 College Ave
Davie, FL 33314
United States
954-236-1063 (Phone)
954-236-1298 (Fax)
Charles C. Carter
Florida Atlantic University ( email )
Boca Raton, FL 33431
United States
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