The Value of Residential Land and Structures during the Great Housing Boom and Bust
AbstractThis study examines how the value of residential land and structures evolved during the great housing boom and bust, using data on more than a million residential properties that were sold in 10 metropolitan areas between 1998 and 2009. We use a hedonic estimator to disentangle the market value of land and structures at a local (Census tract) level. Our estimates reveal substantial heterogeneity in the evolution of the market value of land and structures within metropolitan areas. Surprisingly, lowervalue land at the urban fringes of metropolitan areas was the most volatile during the boom-bust.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 89 (2013)
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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- Satyajit Chatterjee & Burcu Eyigungor, 2013. "Do supply restrictions raise the value of urban land? The (neglected) role of production externalities," Working Papers 13-37, Federal Reserve Bank of Philadelphia.
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