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Tag Archives: Housing
By Grace Mok
Evictions are an important aspect of the affordable housing crisis facing low-income American renters. However, there has been little research quantifying the causal impact of evictions, which poses challenges for academics interested in understanding inequality and policy-makers interested in reducing it. Merging two datasets both new to the literature, I address this gap in the causal literature by using an instrumental variables strategy to examine the impact of evictions on household income over time in Durham, North Carolina. Exploiting gentrification-related evictions as an instrument, I find a 2.5% decrease in household income after eviction. This is a small, but significant decrease in income given that median household income for households at time of eviction is about $15,000.
Advisors: Professor Christopher Timmins, Professor Michelle Connolly | JEL Codes: I32, R29
The Impact of Access to Public Transportation on Residential Property Value: A Comparative Analysis of American Cities
By Moses Snow Wayne
This paper develops a consistent model for analyzing the impact of access to public transportation on property value applied to the four cities of Atlanta, Boston, New York, and San Francisco. This study finds a negative relationship between increasing distance to public transit and property value. Additionally, the elicited effects in each city generally align with geographic features and the degree to which a city is monocentric. This study also demonstrates the salience of using actual map-generated distances as proximity measures and characteristics of public
transit systems in modeling the relationship between public transportation and residential property value.
Advisors: Dr. Patrick Bayer and Kent Kimbrough | JEL Codes: C12, R14, R30, R41
By Jiakun Xu
The large-scale, high-density public housing market in Singapore invites hedonic analysis, due to its homogeneity in structure quality across all neighborhoods. This paper builds a time-dummy hedonic regression model incorporating geospatial features for a large dataset of resale transactions from 2000 to 2016. Significant anticipatory price effects are found for new subway stations, which peak at two years before station opening. A hedonic price index suggests that affordability was a problem during the sustained period of property price inflation from 2011 to 2013. District-level analysis shows evidence of increasing rent gradients, wealth disparities, and “lottery” effects in asset growth. I discuss the potential contributions of these insights to wealth and equity considerations in public policy
Data available upon request. Email firstname.lastname@example.org
Advisor: Charles Becker | JEL Codes: C21, R3, R31, R38, R41
By Caitlin Gorback
In this paper, we explore the various reasons behind the development of the American institution of trailer parks. The first two models arise in equilibrium, the last two respond to housing shocks. Models include “Bad Tenants” in which tenants and landowners contract to protect against bad neighbors, a basic “Capital Constraints model in which tenants and landowners share the burden of capital costs, “Uncertain Growth” in which landowners respond to boom and bust economic growth, and “Long vs. Short Run Growth” in which landowners must decide how to invest on their land given rates of land appreciation.
Advisor: Charles Becker | JEL Codes: R21, R23, R31 | Tagged: