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Tables Appendix 1-A through 1-7 are the source material for Tables 6a, b and c. <br />While there is no need to review these Tables in detail, it is valuable to interpret <br />the coefficients on other right-hand side variables. Since every Table represents <br />the same regression model applied to a different subset of the aggregate data set, it <br />is only necessary to review a representative table, for example, the first Table, <br />Appendix 1-A. <br />The intercept term is usually close to 1.0 and significant reflecting the fact that the <br />dependant variable is 1 + the growth rate and the right hand side variables are <br />covariates which should cause deviation from the baseline growth rate for the <br />pooled data or for individual counties. Log value of original price (constant $, <br />1996) in all cases has a negative and negative and significant impact on the <br />average growth rate; prices that started lower grew more. The coach's size in <br />square feet (Log value of units size (sq. It.)) increases the growth rate of value of <br />the unit and the width of the coach, whether a `double' or a `triple' unit (standard <br />descriptors of mobile home size), also increases the growth rate of the value of a <br />unit. In general, the coefficients on these variables have the expected sign and are <br />significant. <br />Sample sizes vary significantly among the counties. Because multiple sales are <br />necessary to compute the growth rates there may be some sample selection bias. <br />Communities or neighborhoods in which there are relatively more repeat sales are <br />likely to be overrepresented in the population of repeat sale transactions. In <br />communities in which coach prices have increased at a greater rate, there is <br />probably a greater likelihood of resale relative to communities in which coach <br />prices have declined. This phenomenon is likely to be exacerbated by rent control <br />policies which reduce the mobility of tenants who are benefiting from reduced <br />rents. Reduced mobility is a well documented negative by-product of rent control <br />policies which may impact the results. <br />Almost all of the estimations yield adjusted R-squared measures in the range of <br />0.10 to 0.25. A small number of cases yield R-squared measures between 0.05 and <br />0.10. <br />CONCLUSIONS <br />Mobile homes are usually owned by households that pay a periodic rent for the <br />land in a mobile home park (a pad) on which the coach is located. Economic <br />theory suggests that because mobile homes tend not to be mobile but rather fixed <br />to the pad on which they are initially located, and since the pads are rented, the <br />