发布求助
文献互助 智能选刊 最新文献

Journal of Housing Economics最新文献

筛选
英文 中文
Gobi wind blows housing price away: Willingness to pay for clean air in China 戈壁风吹走了房价中国为清洁空气付费的意愿
IF 1.4 3区 经济学
Journal of Housing Economics Pub Date : 2024-10-16 DOI: 10.1016/j.jhe.2024.102029
Jianglong Li, Shiqiang Sun
{"title":"Gobi wind blows housing price away: Willingness to pay for clean air in China","authors":"Jianglong Li,&nbsp;Shiqiang Sun","doi":"10.1016/j.jhe.2024.102029","DOIUrl":"10.1016/j.jhe.2024.102029","url":null,"abstract":"<div><div>Economists often reply on housing market to investigate the willingness to pay for clean air, while potential endogeneity concerns pose challenges. This paper proposes an identification strategy based on the Gobi Desert dust storm, providing suitable instrumental variable for hedonic models at the house-day level in East Asia. We exploit within-Beijing and over-time variation in air pollution caused by dust storm and find that after addressing endogeneity issues, the negative impact of air pollution on housing prices strengthened nearly fivefold. Buyers in Beijing are willing to pay an additional 7.9 % in housing prices for a decrease of PM<sub>10</sub> by 100 μg/m³, indicating that the benefits of air pollution improvement in Beijing over the past decade are &gt;1.5 trillion yuan in the housing market. This paper also reveals that an increase in air pollution leads sellers to exhibit a higher willingness to sell, reflecting in lower listing prices, heightened bargaining power for buyers, and a shorter transaction cycle.</div></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"66 ","pages":"Article 102029"},"PeriodicalIF":1.4,"publicationDate":"2024-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142554247","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does flood risk affect property prices? Evidence from a property-level flood score 洪水风险会影响房产价格吗？来自物业级别洪水评分的证据
IF 1.4 3区 经济学
Journal of Housing Economics Pub Date : 2024-10-09 DOI: 10.1016/j.jhe.2024.102027
Alexandros Skouralis, Nicole Lux, Mark Andrew
{"title":"Does flood risk affect property prices? Evidence from a property-level flood score","authors":"Alexandros Skouralis,&nbsp;Nicole Lux,&nbsp;Mark Andrew","doi":"10.1016/j.jhe.2024.102027","DOIUrl":"10.1016/j.jhe.2024.102027","url":null,"abstract":"<div><div>One in six properties in England is exposed to flood risk and around half of those affected properties can be characterised as high risk. In this paper we examine whether the probability of flooding is capitalised in England's property market prices. We use unique property-level data from Rightmove, UK's no.1 property website and the property-level <span><math><mrow><mi>F</mi><mi>l</mi><mi>o</mi><mi>o</mi><mi>d</mi><mi>S</mi><mi>c</mi><mi>o</mi><mi>r</mi><msup><mrow><mi>e</mi></mrow><mrow><mi>T</mi><mi>M</mi><mspace></mspace></mrow></msup></mrow></math></span>by Twinn, Royal HaskoningDHV. The latter is a metric of objective flood risk based on the likelihood of an individual property being flooded due to rainfall, overflowing rivers and tidal surges and is commonly used by UK lenders. By comparing the unconditional averages of our data, we find that properties at risk are sold at an 8.14 % discount compared to non-exposed properties, and the price discount increases to 32.2 % for properties with very high flood risk. By 2080 the flood events are expected to become more frequent and the average flood risk is projected to increase by 8 %. Our empirical model suggests that one percentage point increase in properties' flood risk is associated with a decline of 0.07 % to 0.11 % in both sold and asking property prices. The impact is higher for properties of which flood risk is expected to increase or for regions that have recently experienced a flood event.</div></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"66 ","pages":"Article 102027"},"PeriodicalIF":1.4,"publicationDate":"2024-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142445637","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Catastrophic fires, human displacement, and real estate prices in California 加州的灾难性火灾、人类流离失所和房地产价格
IF 1.4 3区 经济学
Journal of Housing Economics Pub Date : 2024-10-01 DOI: 10.1016/j.jhe.2024.102023
Hannah Hennighausen , Alexander James
{"title":"Catastrophic fires, human displacement, and real estate prices in California","authors":"Hannah Hennighausen ,&nbsp;Alexander James","doi":"10.1016/j.jhe.2024.102023","DOIUrl":"10.1016/j.jhe.2024.102023","url":null,"abstract":"<div><div>Millions of people are displaced by natural disasters each year, yet little is known about how evacuees affect host communities. We analyze the migratory effects of the most destructive fire in California history, the 2018 Camp Fire, which destroyed over 18,000 structures and displaced roughly 50,000 people. By merging geospatial information on the fire’s footprint with Zillow’s housing transaction data, we estimate both the spatial and temporal effects of the fire on real estate prices at a granular level. A number of important insights emerge. First, within 25 miles of the fire’s footprint, home prices increased by 13 percent in the six-week aftermath of the fire. Effects decay with distance and are statistically insignificant beyond 100 miles. Second, effects are detected within two weeks of the fire, fully materialize within four weeks, and are persistent up to ten months (which exhausts our period of consideration). Results are consistent with the relocation decisions of evacuees and are robust to a variety of specifications and modeling assumptions.</div></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"66 ","pages":"Article 102023"},"PeriodicalIF":1.4,"publicationDate":"2024-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142425989","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Housing prices, airport noise and an unforeseeable event of silence 房价、机场噪音和不可预见的沉默事件
IF 1.4 3区 经济学
Journal of Housing Economics Pub Date : 2024-09-30 DOI: 10.1016/j.jhe.2024.102026
Philipp Breidenbach , Patrick Thiel
{"title":"Housing prices, airport noise and an unforeseeable event of silence","authors":"Philipp Breidenbach ,&nbsp;Patrick Thiel","doi":"10.1016/j.jhe.2024.102026","DOIUrl":"10.1016/j.jhe.2024.102026","url":null,"abstract":"<div><div>To evaluate the causal impact of noise exposure on housing prices, we exploit a sudden and massive reduction in flight traffic that occurred with the onset of the COVID-19 measures in Germany. Comparing locations differently exposed to pre- pandemic noise with a difference-in-difference approach, we detect a 2.4% increase in prices for apartments that experienced a noise reduction. Disentangling temporal dynamics, we find a peak effect in mid-2021 (up to 6%), with the effect persisting until 2023, albeit at a lower magnitude. In contrast to most evaluations show- ing that the erection of a disamenity affects prices negatively, we show that lifting the burden enables neighborhoods to catch up again immediately. The immediate catch-up contradicts a stickiness of housing prices regarding (temporal) local fac- tors. The temporal pattern shows a clear peak of the effects during the pandemic, which potentially hints at information asymmetries since buyers may not know the non-pandemic noise level during the pandemic.</div></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"66 ","pages":"Article 102026"},"PeriodicalIF":1.4,"publicationDate":"2024-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142425991","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Residents’ willingness to pay to avoid crime 居民为避免犯罪而付费的意愿
IF 1.4 3区 经济学
Journal of Housing Economics Pub Date : 2024-09-25 DOI: 10.1016/j.jhe.2024.102024
Alexander Dentler , Enzo Rossi
{"title":"Residents’ willingness to pay to avoid crime","authors":"Alexander Dentler ,&nbsp;Enzo Rossi","doi":"10.1016/j.jhe.2024.102024","DOIUrl":"10.1016/j.jhe.2024.102024","url":null,"abstract":"<div><div>How much is a resident willing to pay to avoid a crime in the neighborhood? House price changes following a crime do not fully reflect the willingness to pay to avoid crime. Besides prices the market’s liquidity needs to be taken into account in this context. We detect market freezes following shootings, assaults, robberies, and burglaries. We propose a model, supported by empirical evidence, that combines the price and quantity dimensions into a single measure: economic welfare. The willingness to pay depends on the type of crime and averages between 7% and 18% of house valuations. These predictions are manifolds of the effect on prices estimated in this paper (0%–10%) and documented in the literature. Overall, our findings highlight the importance of considering market liquidity when examining the impact of crime on the real estate market.</div></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"66 ","pages":"Article 102024"},"PeriodicalIF":1.4,"publicationDate":"2024-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142425990","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Unpacking the relation between media sentiment and house prices: A topic modeling approach 解读媒体情绪与房价之间的关系：主题建模方法
IF 1.4 3区 经济学
Journal of Housing Economics Pub Date : 2024-09-21 DOI: 10.1016/j.jhe.2024.102025
Ernest N. Biktimirov, Tatyana Sokolyk, Anteneh Ayanso
{"title":"Unpacking the relation between media sentiment and house prices: A topic modeling approach","authors":"Ernest N. Biktimirov,&nbsp;Tatyana Sokolyk,&nbsp;Anteneh Ayanso","doi":"10.1016/j.jhe.2024.102025","DOIUrl":"10.1016/j.jhe.2024.102025","url":null,"abstract":"<div><div>This study uses a topic modeling approach to investigate the relation between news media sentiment and house price movements. By examining real estate related articles published in local newspapers of 16 major cities in Canada and Australia, we find that housing media sentiment has significant relation with future house price movements in the Canadian market but not in the Australian market. We identify the specific topics discussed in news media related to the housing market and report differences in their themes and media sentiment's predictive power between Canada and Australia. This analysis presents novel inferences of qualitative and hard-to-quantify information related to the housing market in two different countries.</div></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"66 ","pages":"Article 102025"},"PeriodicalIF":1.4,"publicationDate":"2024-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142359423","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A cost decomposition of break-even rents for new multifamily housing development 新的多户住宅开发项目盈亏平衡租金的成本分解
IF 1.4 3区 经济学
Journal of Housing Economics Pub Date : 2024-08-06 DOI: 10.1016/j.jhe.2024.102012
Michael D. Eriksen , Anthony W. Orlando
{"title":"A cost decomposition of break-even rents for new multifamily housing development","authors":"Michael D. Eriksen ,&nbsp;Anthony W. Orlando","doi":"10.1016/j.jhe.2024.102012","DOIUrl":"10.1016/j.jhe.2024.102012","url":null,"abstract":"<div><p>We decompose the break-even rents of new multifamily housing into three cost components — land prices, construction costs, and financial capital — for 50 of the largest cities in the United States from 2012 to 2020. This is accomplished by combining existing data on land prices and income capitalization rates with a new data series on local historical pricing of required construction components of complete buildings called “assemblies”. For both 3-story, wood-framed buildings and 12-story, steel-framed buildings, we find that construction costs contribute significantly to the growth of break-even rents, and the relative contribution of construction costs exceeds that of land values for the taller buildings. Meanwhile, cap rates have declined, mediating the effect of development costs on the rents borne by tenants. Overall, there is significant variation in rent growth across cities that can be explained by these three cost factors.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"66 ","pages":"Article 102012"},"PeriodicalIF":1.4,"publicationDate":"2024-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1051137724000317/pdfft?md5=b15e50ea4924b0f2fad5c6658c938f57&pid=1-s2.0-S1051137724000317-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142096439","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
What determines the success of housing mobility programs? 是什么决定了住房流动计划的成功？
IF 1.4 3区 经济学
Journal of Housing Economics Pub Date : 2024-07-06 DOI: 10.1016/j.jhe.2024.102009
Dionissi Aliprantis , Hal Martin , Kristen Tauber
{"title":"What determines the success of housing mobility programs?","authors":"Dionissi Aliprantis ,&nbsp;Hal Martin ,&nbsp;Kristen Tauber","doi":"10.1016/j.jhe.2024.102009","DOIUrl":"10.1016/j.jhe.2024.102009","url":null,"abstract":"<div><p>Housing Mobility Programs (HMPs) support residential mobility to reduce economic segregation. One design feature of HMPs requires identifying areas to which moving will most improve outcomes. We show that ranking neighborhoods’ effects using current residents’ outcomes has strengths over using previous residents’ outcomes due to statistical uncertainty, bias from sorting over time, and lack of support. We simulate how the choice of neighborhood ranking and others affect an originally-intended outcome of HMPs: reducing racial segregation. HMP success on this dimension depends on the ability to port vouchers across jurisdictions, access to cars, and the range of neighborhoods targeted.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"65 ","pages":"Article 102009"},"PeriodicalIF":1.4,"publicationDate":"2024-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142075924","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Impact of skills in early adulthood on lifetime homeownership disparities 成年早期的技能对终生住房所有权差异的影响
IF 1.4 3区 经济学
Journal of Housing Economics Pub Date : 2024-07-04 DOI: 10.1016/j.jhe.2024.102011
Liyi Liu, Douglas McManus
{"title":"Impact of skills in early adulthood on lifetime homeownership disparities","authors":"Liyi Liu,&nbsp;Douglas McManus","doi":"10.1016/j.jhe.2024.102011","DOIUrl":"10.1016/j.jhe.2024.102011","url":null,"abstract":"<div><p>This paper shows that skills acquired by early adulthood affect homeownership levels achieved later in life in important ways. The paper examines three sets of skills—cognitive skills, as measured by the Armed Forces Qualifying Test (AFQT) score; non-cognitive skills (specifically, the degree to which people believe that they have control over the outcome of events in their lives), measured by the Rotter score; and social skills, using a Social score based on Deming (2017). Mediation analysis is used to identify both the direct and indirect effects of these skills, as captured by the three different types of scores, on homeownership. We show that the AFQT score measuring cognitive skills not only captures direct effects on the homeownership rate, but even larger indirect effects through the mediator variables—education and income. AFQT scores in early adulthood are shown to be highly predictive of homeownership outcomes, explaining roughly one-quarter to one-third of the disparate outcomes between White, Black, and Hispanic households. We also examine the degree to which the AFQT, Rotter, and Social scores explain variation in homeownership rates over an individual's life cycle. The findings suggest that reducing disparities in educational outcomes would meaningfully contribute to reducing minority homeownership gaps.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"65 ","pages":"Article 102011"},"PeriodicalIF":1.4,"publicationDate":"2024-07-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141704302","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Opioids prescribing restrictions and homelessness: Evidence from hydrocodone rescheduling 阿片类药物处方限制与无家可归问题：从氢可酮重新列表中获得的证据
IF 1.4 3区 经济学
Journal of Housing Economics Pub Date : 2024-06-25 DOI: 10.1016/j.jhe.2024.102010
Johabed G. Olvera , Felipe Lozano-Rojas , Julio A. Ramos Pastrana , Sumedha Gupta
{"title":"Opioids prescribing restrictions and homelessness: Evidence from hydrocodone rescheduling","authors":"Johabed G. Olvera ,&nbsp;Felipe Lozano-Rojas ,&nbsp;Julio A. Ramos Pastrana ,&nbsp;Sumedha Gupta","doi":"10.1016/j.jhe.2024.102010","DOIUrl":"10.1016/j.jhe.2024.102010","url":null,"abstract":"<div><p>This paper examines the effect of restricting opioid prescription on homelessness. We assess this relationship by exploiting plausible exogenous variation in prescribed opioid supply derived from an opioid restriction policy: the hydrocodone (i.e., Vicodin, not oxycodone products like Oxycontin) rescheduling. We identified the causal effect of this decrease in the supply of hydrocodone, the most prescribed opioid in the U.S. and comprising 55% of overall use opioid prescription dispensing, by comparing the number of homeless individuals in geographies with higher exposure to Hydrocodone against those in areas with lower exposure, before and after the enactment of the policy. We find that in the quarter following hydrocodone upscheduling, the rate of people experiencing homelessness decreased by almost 56 per 100,000 inhabitants (a 25.4% reduction relative to the pre-policy mean). In addition, results show that hydrocodone prescriptions, drug related deaths, unemployment, and divorce rates decrease following the upscheduling. Taken together, our results suggest that during our study period (2007–2017) the hydrocodone rescheduling reduced homelessness by preventing some household crises.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"66 ","pages":"Article 102010"},"PeriodicalIF":1.4,"publicationDate":"2024-06-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142150923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信