Asymmetric Information, Demographics, and Housing Decisions amongst Apartment Households in Nairobi County, Kenya
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The study sought to determine the moderating effect of asymmetric information on the relationship between household demographics and four owner-occupied apartment housing decisions that is choice of neighbourhood, choice of location of apartment house, source of financing and size of house. Using two-stage cluster sampling, 196 owner-occupied apartment households were studied in Nairobi County, Kenya though a sample size of 226 households had been initially selected to participate in the study. Questionnaires were used as the data collection method in an exercise that took place in August 2014. Hierarchical multiple regression analysis was used to achieve the study objective of testing for moderator effects of asymmetric information. Preliminary statistical tests were performed and the same were, to a great extent, in the affirmative. The study found that asymmetric information had a moderating effect on the relationship between demographics and the four housing decisions but the moderation was not statistically significant in explaining any of the four relationships hence the implication that the owner-occupied housing market in Nairobi County, Kenya could be efficient to the extent of the scope of this study. Hence, there was no sufficient evidence to reject the four null hypotheses of the study in view of a significance level of 0.05. The study cites limitations encountered and recommends areas for further study in view of the study findings.