Article ID Journal Published Year Pages File Type
7383941 Regional Science and Urban Economics 2014 11 Pages PDF
Abstract
This paper uses quantile regression, while accounting for spatial autocorrelation, to examine the simultaneous space-time impact of foreclosures on neighborhood property values. We find that negative price externalities associated with neighborhood foreclosures are greatest (1) among lower-priced homes, (2) within 250 ft of the property and (3) in the 12 months following a foreclosure auction. By using quantile regression, we are able to also investigate changes in the distribution of house prices associated with varying levels of neighborhood foreclosures.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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