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A Hedonic Approach to Residential Succession

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  • Coulson, N Edward
  • Bond, Eric W

Abstract

A model of neighborhood turnover drawn from Bond and Coulson (1989) is proposed. The type of turnover process that is obtained is shown to depend mainly on the hedonic bid functions for housing and neighborhood quality. A demand system of four hedonic attributes is estimated. The main results are that the traditional model of filtering by age of unit does not occur and that filtering by housing size does. Tipping due to changes in median neighborhood income is also quite possible. Tipping through changes in racial composition appears less likely. Copyright 1990 by MIT Press.

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Bibliographic Info

Article provided by MIT Press in its journal Review of Economics & Statistics.

Volume (Year): 72 (1990)
Issue (Month): 3 (August)
Pages: 433-44

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Handle: RePEc:tpr:restat:v:72:y:1990:i:3:p:433-44

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Web page: http://mitpress.mit.edu/journals/

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Cited by:
  1. McKinnish, Terra & Walsh, Randall & White, T. Kirk, 2007. "Who Gentrifies Low-income Neighborhoods?," MPRA Paper 6671, University Library of Munich, Germany, revised Nov 2007.
  2. Çağlayan Ebru & Arikan Eban, 2011. "Determinants of house prices in Istanbul: a quantile regression approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 45(2), pages 305-317, February.
  3. Jill J. McCluskey & Gordon C. Rausser, 2003. "Stigmatized Asset Value: Is It Temporary or Long-Term?," The Review of Economics and Statistics, MIT Press, vol. 85(2), pages 276-285, May.
  4. Ioannides, Yannis M., 2003. "Interactive property valuations," Journal of Urban Economics, Elsevier, vol. 53(1), pages 145-170, January.
  5. V. Smith & Jared Carbone & Jaren Pope & Daniel Hallstrom & Michael Darden, 2006. "Adjusting to natural disasters," Journal of Risk and Uncertainty, Springer, vol. 33(1), pages 37-54, September.
  6. C. Tsuriel Somerville & Christopher J. Mayer, 2003. "Government regulation and changes in the affordable housing stock," Economic Policy Review, Federal Reserve Bank of New York, issue Jun, pages 45-62.
  7. Philippe Cyrenne & Robert Fenton & Joseph Warbanski, 2006. "Historic Buildings and Rehabilitation Expenditures: A Panel Data Approach," Journal of Real Estate Research, American Real Estate Society, vol. 28(4), pages 349-380.
  8. Jan K. Brueckner & Stuart S. Rosenthal, 2005. "Gentrification and Neighborhood Housing Cycles: Will America's Future Downtowns be Rich?," CESifo Working Paper Series 1579, CESifo Group Munich.
  9. Patrick Bajari & Matthew E. Kahn, 2002. "Estimating Housing Demand with an Application to Explaining Racial Segregation in Cities," Working Papers 02011, Stanford University, Department of Economics.
  10. Salazar, Xavier & Atienza, Miguel, 2010. "Las empresas en Santa Cruz, ¿continúan en una estructura monocéntrica?," Revista Latinoamericana de Desarrollo Economico, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana, issue 13, pages 59-90.
  11. Jan K. Brueckner & Stuart S. Rosenthal, 2005. "Gentrification and Neighborhood Housing Cycles: Will America’s Future Downtowns Be Rich?," Working Papers 050611, University of California-Irvine, Department of Economics.
  12. Ioannides, Yannis M., 2002. "Residential neighborhood effects," Regional Science and Urban Economics, Elsevier, vol. 32(2), pages 145-165, March.
  13. Rosenthal, Stuart S., 2008. "Old homes, externalities, and poor neighborhoods. A model of urban decline and renewal," Journal of Urban Economics, Elsevier, vol. 63(3), pages 816-840, May.

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