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The Effect of School Desegregation Decisions on Single-Family Housing Prices

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Author Info
Richard D. Evans () (Economics Department Memphis State University Memphis, Tennessee 38152)
William Rayburn (Finance and Real Estate University of Mississippi Oxford, Mississippi 38655)
Abstract

Mean price per square foot for single-family residences is computed monthly in two adjacent areas of Memphis, Tennessee, for 180 months. The ratio of the mean prices reflects the time patterns of differential impacts of school desegregation events on the neighborhoods that had different racial characteristics. That ratio appears to be a stochastic process described by an ARIMA (1,1,3) (0,0,1) model, interrupted by four events: the Shelby County School segregation guilty decision in August 1971, the Memphis City School segregation guilty decision in December 1971, the implementation of the city's "Plan A" limited busing in January 1973, and the switch to massive bussing under "Plan Z" in that December.

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File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol06n02/v06p207.pdf
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Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

Volume (Year): 6 (1991)
Issue (Month): 2 ()
Pages: 107-216
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Handle: RePEc:jre:issued:v:6:n:2:1991:p:107-216

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Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. William Rayburn & Michael Devaney & Richard Evans, 1987. "A Test of Weak-Form Efficiency in Residential Real Estate Returns," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 15(3), pages 220-233. [Downloadable!] (restricted)
  2. Clotfelter, Charles T, 1975. "The Effect of School Desegregation on Housing Prices," The Review of Economics and Statistics, MIT Press, vol. 57(4), pages 446-51, November. [Downloadable!] (restricted)
  3. Kerry D. Vandell & Robert H. Zerbst, 1984. "Estimates of the Effect of School Desegregation Plans on Housing Values Over Time," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 12(2), pages 109-135. [Downloadable!] (restricted)
  4. Gau, George W, 1984. "Weak Form Tests of the Efficiency of Real Estate Investment Markets," The Financial Review, Eastern Finance Association, vol. 19(4), pages 301-20, November.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Michael Devaney & William Rayburn, 1993. "Neighborhood Racial Transition and Housing Returns: A Portfolio Approach," Journal of Real Estate Research, American Real Estate Society, vol. 8(2), pages 239-252. [Downloadable!]
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