The Adverse Impacts of Local Historic Designation: The Case of Small Apartment Buildings in Philadelphia
This paper examines the sales effects of local historic preservation. Using the hedonic framework our study shows that small historic apartment buildings experienced a 24 percent reduction in price compared to nonlocally certified properties. Our variable for federal historic districts, however, produced statistically insignificant results. The results suggest that historic control (as practiced in Philadelphia) is confiscatory. The study illustrates an outcome of public regulation that impinges on private property rights. Copyright 1994 by Kluwer Academic Publishers
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
When requesting a correction, please mention this item's handle: RePEc:kap:jrefec:v:8:y:1994:i:3:p:225-34. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.