Local land-development policies and urban housing values
AbstractThis paper evaluates the urban housing price impacts of local state land-development policy, and suggests that local governments have multiple objectives and constraints which shape their policy stance toward growth. Based on analyses of San Francisco Bay Area suburban cities, we find that land-use policies of the local state have important housing price effects, with restrictive policies increasing average home values by approximately 15%. Findings on local motivations for use of land-use controls suggest that such policies are adopted to protect private and public consumption levels of residents and thus insure reproduction of social relations. However, constraints on development policy, deriving from historical conditions of urbanization and configuration of the local economic base; development policies of neighboring jurisdictions; and past development policies in a locality, are important factors shaping land-development policy of the local state.
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Bibliographic InfoArticle provided by Pion Ltd, London in its journal Environment and Planning A.
Volume (Year): 13 (1981)
Issue (Month): 10 (October)
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Web page: http://www.pion.co.uk
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- Delores Conway & Christina Li & Jennifer Wolch & Christopher Kahle & Michael Jerrett, 2010. "A Spatial Autocorrelation Approach for Examining the Effects of Urban Greenspace on Residential Property Values," The Journal of Real Estate Finance and Economics, Springer, vol. 41(2), pages 150-169, August.
- Quigley, John M. & Rosenthal, Larry A., 2005. "The Effects of Land-Use Regulation on the Price of Housing: What Do We Know? What Can We Learn?," Berkeley Program on Housing and Urban Policy, Working Paper Series qt90m9g90w, Berkeley Program on Housing and Urban Policy.
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