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Foreclosures and housing prices: does neighborhood configuration matter?
AbstractThis paper measures the extent to which effects of foreclosures vary across neighborhoods. It offers a simple empirical framework for decomposing the spillover effects on neighboring property prices. Data from Orange County, Florida, reveal that the effects systematically vary across neighborhoods by morphology. The results indicate that older, homogeneous age structure, and non-gated neighborhoods with high vacancy rates are most in jeopardy when foreclosures are present, as these neighborhoods show the greatest neighborhood house price effects.
Foreclosures and housing prices: does neighborhood configuration matter?
AbstractThis paper measures the extent to which effects of foreclosures vary across neighborhoods. It offers a simple empirical framework for decomposing the spillover effects on neighboring property prices. Data from Orange County, Florida, reveal that the effects systematically vary across neighborhoods by morphology. The results indicate that older, homogeneous age structure, and non-gated neighborhoods with high vacancy rates are most in jeopardy when foreclosures are present, as these neighborhoods show the greatest neighborhood house price effects.
Foreclosures and housing prices: does neighborhood configuration matter?
Ann Reg Sci
Turnbull, Geoffrey K. (author) / van der Vlist, Arno J. (author)
The Annals of Regional Science ; 72 ; 407-433
2024-02-01
Article (Journal)
Electronic Resource
English
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