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DATA In this research, transactions data for mobile homes in seven counties of California (Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Clara and Ventura) were made available. After geo-coding and matching with census tracts, there were 201,228 records from the period beginning in January 1983 and ending in May 2003. As we wished to create hybrid repeat -sale indexes, our focus for much of the analysis is on sales of coaches for which there are multiple transactions, thus records for single sales were removed from the data set. Other records were eliminated because of incomplete city or mobile home park (Park ID) information. Outliers were also removed. These modifications left the 20-year population of sales included in the data set analyzed equal to 137,983. Each record in the original data set is a mobile home transaction and includes the county, city, address, mobile home park name and ID, the original sale price and resale price, the dates of sale (year, month, and day), and measures of other attributes of the unit such as model year, manufacturer, width, length, and type (single, double, or triple) and so on. These data were combined with census data by census tract, including median household income, changes in median household income, vacancy rate, proportion of the elderly (> 65 years old), unemployment rate, and proportion of households with public assistance income, etc. Finally, city - specific mobile home park rent control information was incorporated in the merged data set, including an indicator of the nature of the rent control regime 8 Table 1 defines each of the variables included in the data set. There are 201 municipalities in the seven counties included in this study, among which, 49 cities have a rent control ordinance, and 48,043 transactions in the data set (34.8 percent) were actually under rent control. From Figures la through c, we can see that the share of transactions as measured by square footage, value and Records with incomplete geographic information and the top and bottom 1 percent of records bases on the variables Original Sales Price (Constant $), Resale Price (Constant $), Size and Average Annual Growth Rate were removed from the data set. We also explored the impact of focusing on properties where 0.5 < (Constant Resale Price/Constant Original Sales Price) < 3.0. We found that the results were robust to the imposition of this constraint. See Table 1 for descriptions of the variables. s For cities with rent control, dummy variables were including starting in the quarter in which rent control was implemented. We also included a dummy variable that indicates whether or not there is vacancy decontrol. No vacancy decontrol reflects a more rigid rent control regime.