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Transportation, Sorting and House Values

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Author Info
Richard Voith
Abstract

In this paper, we examine the importance of accessibility to employment and transportation system attributes for residential location choice, car ownership and house values. Using the 1980 Census of Housing and Journey to Work data merged with transportation system data, we find strong evidence of residential sorting based on employment location. We find that suburban areas with good commuter rail access to the CBD have significantly greater fractions of their labor force working in the CBD, own fewer cars and have higher house prices than similar neighborhoods and houses in census tracts without service. The house value premium is over 6.4%. Copyright American Real Estate and Urban Economics Association.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/1540-6229.00545
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Publisher Info
Article provided by American Real Estate and Urban Economics Association in its journal Real Estate Economics.

Volume (Year): 19 (1991)
Issue (Month): 2 ()
Pages: 117-137
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Handle: RePEc:bla:reesec:v:19:y:1991:i:2:p:117-137

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  1. Richard Voith, 1998. "Transportation investments in the Philadelphia metropolitan area: who benefits? Who pays? And what are the consequences?," Working Papers 98-7, Federal Reserve Bank of Philadelphia. [Downloadable!]
  2. Richard Voith, 1996. "The suburban housing market: the effects of city and suburban job growth," Business Review, Federal Reserve Bank of Philadelphia, issue Nov, pages 13-25. [Downloadable!]
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