Homebuying in New Orleans Before and After Katrina: Patterns by Space, Race and Income
AbstractNatural disasters can conceivably have significant impacts on the “neighborhood sorting” of different racial or economic groups across intrametropolitan space. Using Home Mortgage Disclosure Act data we examine mortgage-financed homebuying activity within the New Orleans MSA before and after Hurricane Katrina. We find that, while the total amount of homebuying in the 7-parish New Orleans MSA was relatively unchanged between 2004 and 2006, homebuying in the city declined significantly, and declined most in places experiencing severe storm damage. We also find that after Hurricane Katrina, the proportion of homebuyers in the region and the city who were African-American or low-income declined. Finally, we find that segregation levels of African-American and lower-income homebuyers f declined in the year following Katrina. However, some of this effect is likely due to smaller overall numbers of lower-income and African-American buyers in the region.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 8611.
Date of creation: 27 Apr 2008
Date of revision:
New Orleans; housing after disasters; segregation;
Find related papers by JEL classification:
- R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
- R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population
This paper has been announced in the following NEP Reports:
- NEP-ALL-2008-05-10 (All new papers)
- NEP-GEO-2008-05-10 (Economic Geography)
- NEP-URE-2008-05-10 (Urban & Real Estate Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- James C. Murdoch & Harinder Singh & Mark Thayer, 1993. "The Impact of Natural Hazards on Housing Values: The Loma Prieta Earthquake," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 21(2), pages 167-184.
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