Abstract
 Condominium Conversions in San Francisco: GIS Analysis of Determinants Track: State and Local Government Author(s): J.M. Pogodzinski, Alicia Parker, Tito Vandermeyden California has one of the most expensive housing markets in the nation. The lack of affordable housing production contributes to steadily increasing home prices and rents. The 1980s condominium conversion trend has resurfaced as a way for developers to cash in on demand for ownership condominiums from entry-level buyers, investors, and baby boomers. This paper uses GIS to examine determinants of condominium conversions, including owner-occupied house prices, rents, and the characteristics of the housing stock. Data from the San Francisco Department of Public Works and U.S. Census block group data are employed to test the condominium conversion model. The model also predicts the reservation rent--the point at which an investor is indifferent between renting out the unit or selling it. Lessons for public policy about condominium conversions are developed. J.M. Pogodzinski San Jose State University Dept of Economics (0114), San Jose State Univ, 1 Washington Square San Jose , CA 95192-0114 US Phone: 408-924-5421 E-mail: jmp@pogodzinski.net Alicia Parker San Jose State University Urban & Regional Planning Department (0185) 1 Washington Square San Jose , CA 95192-0185 US Phone: (559) 285-8673 E-mail: alitesus@yahoo.com Tito Vandermeyden Nextbus Inc. P.O. Box 14605 San Francisco , CA 94114 US Phone: (510) 995-3209 E-mail: tvandermeyden@nextbus.com |
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