Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7383941 | Regional Science and Urban Economics | 2014 | 11 Pages |
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 250Â ft of the property and (3) in the 12Â 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.
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Authors
Lei Zhang, Tammy Leonard,