Spatial Fragmentation and the Value of Residential Housing
AbstractThis study examines the impacts of spatial fragmentation and land use diversity on single-family residential real estate values. Through hedonic price analysis, we estimate the implicit price effects of spatial fragmentation and neighborhood land use diversity in the city of Milwaukee, Wisconsin. Spatial econometric estimates suggest that house prices are negatively impacted by spatial fragmentation at low levels of fragmentation, yet there is a positive price relationship at high levels of fragmentation. The results also suggest that house prices do not share a statistically significant relationship with land use diversity.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 88 (2012)
Issue (Month): 1 ()
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Web page: http://le.uwpress.org/
Find related papers by JEL classification:
- R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
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- Toke Panduro & Bo Thorsen, 2014. "Evaluating two model reduction approaches for large scale hedonic models sensitive to omitted variables and multicollinearity," Letters in Spatial and Resource Sciences, Springer, vol. 7(2), pages 85-102, July.
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