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Housing Attribute Preferences in a Northern Mexico Metropolitan Economy

Author

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  • Karen Fierro

    ()

  • Thomas Fullerton

    ()

  • K. Donjuan-Callejo

    ()

Abstract

Studies of the valuation of housing attributes have been conducted for numerous metropolitan markets. Empirical analyses of this nature for cities in Latin America and Mexico are less common. This study utilizes data for 175 new houses in Ciudad Juarez, a major metropolitan economy in northern Mexico, to estimate a hedonic pricing model. All units in the sample were completed and sold between November 2006 and April 2007. For each house, a total of 14 characteristics relating to structure and location are employed as explanatory variables. Estimation results indicate that the structural characteristics play bigger roles than the neighborhood amenities. Surprisingly, neighborhood parks are found to lower housing values. Copyright International Atlantic Economic Society 2009

Suggested Citation

  • Karen Fierro & Thomas Fullerton & K. Donjuan-Callejo, 2009. "Housing Attribute Preferences in a Northern Mexico Metropolitan Economy," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 37(2), pages 159-172, June.
  • Handle: RePEc:kap:atlecj:v:37:y:2009:i:2:p:159-172
    DOI: 10.1007/s11293-009-9174-x
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    File URL: http://hdl.handle.net/10.1007/s11293-009-9174-x
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    References listed on IDEAS

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    1. Case, Karl E. & Mayer, Christopher J., 1996. "Housing price dynamics within a metropolitan area," Regional Science and Urban Economics, Elsevier, vol. 26(3-4), pages 387-407, June.
    2. Edward C. Skelton, 2006. "Laying the foundation for a mortgage industry in Mexico," Economic Letter, Federal Reserve Bank of Dallas, vol. 1(oct.).
    3. Can, Ayse, 1992. "Specification and estimation of hedonic housing price models," Regional Science and Urban Economics, Elsevier, vol. 22(3), pages 453-474, September.
    4. Carolyn A. Dehring & Craig A. Depken & Michael R. Ward, 2007. "The Impact Of Stadium Announcements On Residential Property Values: Evidence From A Natural Experiment In Dallas-Fort Worth," Contemporary Economic Policy, Western Economic Association International, vol. 25(4), pages 627-638, October.
    5. Gin, Alan & Sonstelie, Jon, 1992. "The streetcar and residential location in nineteenth century Philadelphia," Journal of Urban Economics, Elsevier, vol. 32(1), pages 92-107, July.
    6. Man Cho, 1997. "Congestion Effects of Spatial Growth Restrictions: A Model and Empirical Analysis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 25(3), pages 409-438.
    7. Cheshire, Paul & Sheppard, Stephen, 1995. "On the Price of Land and the Value of Amenities," Economica, London School of Economics and Political Science, vol. 62(246), pages 247-267, May.
    8. Blomquist, Glenn & Worley, Lawrence, 1981. "Hedonic prices, demands for urban housing amenities, and benefit estimates," Journal of Urban Economics, Elsevier, vol. 9(2), pages 212-221, March.
    9. Thomas Fullerton & Roberto Tinajero & Martha Barraza de Anda, 2006. "Short-Term Water Consumption Patterns in Ciudad Juárez, Mexico," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 34(4), pages 467-479, December.
    10. Jordan Rappaport, 2007. "A guide to aggregate house price measures," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 41-71.
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    More about this item

    Keywords

    Housing demand; Applied econometrics; Mexico; R21; Housing demand;

    JEL classification:

    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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