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Owner-Occupied Housing

The objective of the research is to address two issues: the estimation of expenditure weights so they are more reliable and comparable across countries, and determining what price and quantity data should be provided by countries to estimate PPPs.

Three methods were used in 2005 to estimate PPPs at the regional level—rentals, quantities, and reference volumes. The regions were linked using quality adjusted quantities based on data from 106 countries as provided and documented by A. Heston.  The regional linking factors were determined independently of the regional PPPs which was a departure from how the rest of consumption was linked via two stages with regional PPP entering into the first step.

Several efforts are underway: Paul McCarthy is providing an overall review of practices used for the national accounts including the estimation of housing expenditures.  Alan Heston is writing a chapter on housing for the ICP Book.  Derek Blades prepared a paper for the TAG on “Housing in ICP 2011: Issues to be resolved”. 

The Blades paper raised questions about using current SNA guidelines for imputing rentals, suggested reviewing the appropriateness of the User Cost method to estimate expenditures and also impute rents for some types of housing.  The paper includes a questionnaire that could be sent to the countries to obtain feedback about what data they can provide.  The paper also contains a proposed questionnaire to obtain data for the quantity method.

The working group established for the above includes A. Heston, D. Blades, P. McCarthy, M. Silver, E. Diewert, and F. Vogel.

 

  Research Item 01: Owner-Occupied Housing

  Source

  Title

ICP Book

Dwelling Services

OM

Dwelling Services in ICP 2011 (English) (Arabic) (French) (Spanish)

OM

Guidelines for the User Cost Method to Calculate Rents for Owner Occupied Housing (English) (Arabic) (French) (Spanish

OM

ICP Dwelling Services Questionnaire: Volume of Housing in 2011 (English) (Arabic) (French) (Spanish

OM

Rental Specifications (English) (Arabic) (French) (Spanish)

OM

Presentation on Dwelling Services in the ICP 2011 (English)

TAG03

Dwelling Services in the ICP 2011

TAG03

Rental Specifications 

TAG03

User Cost Method

TAG03

Questionnaire of Volume on Dwellings --- Excel version

TAG03

Housing, including Rental Surveys 

TAG03

Dwelling Services 

TAG03

Dwelling Services Overview --- PowerPoint version 

TAG03

Quantity Approach for Services of Dwelling --- PowerPoint version 

TAG03

User Cost Estimates for Output of Owner Occupied --- PowerPoint version 

TAG02

An Exploration of Alternative Treatments of Owner- Occupied Housing in a CPI 

TAG02

Housing in Western Asia 

TAG02

Questionnaire 

TAG02

Final report on land price separation study 

TAG02

Housing in ICP 2011 : Issues to be Resolved 

TAG02

Notes on the Treatment of Housing in the National Accounts and the ICP 

TAG02

Reconciling User Costs and Rental - Equivalence: Evidence from the U.S. Consumer Expenditure Survey 

TAG02

The Decomposition of a House Price index into Land and Structures Components: A Hedonic Regression Approach 

TAG02

The Paris OECD-IMF Workshop on Real Estate Price Indexes: Conclusions and Future Directions 

TAG02

The Puzzling Divergence of Rents and User Costs, 1980–2004 

TAG02

The Puzzling Divergence of U.S. Rents and User Costs, 1980-2004: Summary and Extensions 

TAG02

User Cost for Rents of Dwellings in the West Balkan Countries 

TAG01

Housing in ICP 2001: Issues to be Resolved. Derek Blades




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