Housing Prices and Flood Risk: An Examination Using Spline Regression
AbstractThis article examines the impact of flood risk and mandatory flood insurance on property values. Using a large data set of almost 2,000 homes sold in the New Orleans, Louisiana, area from 1971 through 1986, the analysis confirms the finding of earlier studies that location in a floodplain does reduce property values. The present study, using spline variables to adjust for locational variation in the data and an improved measure of insurance cost, reveals that much of this reduction can be attributed to mandatory flood insurance coverage. Moreover, while unexpected flooding does increase the insurance cost capitalization, repeated flooding does not seem to reduce property values further. Copyright 1991 by Kluwer Academic Publishers
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Springer in its journal Journal of Real Estate Finance & Economics.
Volume (Year): 4 (1991)
Issue (Month): 4 (December)
Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=102945
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Patrick C. Flower & Wade R. Ragas, 1994. "The Effects of Refineries on Neighborhood Property Values," Journal of Real Estate Research, American Real Estate Society, vol. 9(3), pages 319-338.
- Vanessa E. Daniel & Raymond J.G.M. Florax & Piet Rietveld, 2007.
"Flooding Risk And Housing Values: An Economic Assessment Of Environmental Hazard,"
07-02, Purdue University, College of Agriculture, Department of Agricultural Economics.
- Daniel, Vanessa E. & Florax, Raymond J.G.M. & Rietveld, Piet, 2009. "Flooding risk and housing values: An economic assessment of environmental hazard," Ecological Economics, Elsevier, vol. 69(2), pages 355-365, December.
- Alicia Rambaldi & Ryan McAllister & Kerry Collins & Cameron Fletcher, 2011.
"Housing shadow prices in an inundation prone suburb,"
Discussion Papers Series
429, School of Economics, University of Queensland, Australia.
- Alicia N. Rambaldi & Cameron S. Fletcher & Kerry Collins & Ryan R.J. McAllister, 2013. "Housing Shadow Prices in an Inundation-prone Suburb," Urban Studies, Urban Studies Journal Limited, vol. 50(9), pages 1889-1905, July.
- Russell McKenzie & John Levendis, 2010. "Flood Hazards and Urban Housing Markets: The Effects of Katrina on New Orleans," The Journal of Real Estate Finance and Economics, Springer, vol. 40(1), pages 62-76, January.
- Bin, Okmyung, 2004. "A prediction comparison of housing sales prices by parametric versus semi-parametric regressions," Journal of Housing Economics, Elsevier, vol. 13(1), pages 68-84, March.
- Daniel Sutter & Marc Poitras, 2010. "Do people respond to low probability risks? Evidence from tornado risk and manufactured homes," Journal of Risk and Uncertainty, Springer, vol. 40(2), pages 181-196, April.
- Murphy, Anthony & Strobl, Eric, 2009.
"The Impact of Hurricanes on Housing Prices: Evidence from US Coastal Cities,"
19353, University Library of Munich, Germany.
- Anthony Murphy & Eric Strobl, 2010. "The impact of hurricanes on housing prices: evidence from U.S. coastal cities," Working Papers 1009, Federal Reserve Bank of Dallas.
- Atreya, Ajita & Ferreira, Susana, 2012. "Spatial Variation in Flood Risk Perception: A Spatial Econometric Approach," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124863, Agricultural and Applied Economics Association.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.