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Values of environmental landscape amenities during the 2000-2006 real estate boom and subsequent 2008 recession

Author

Listed:
  • Seong-Hoon Cho
  • Seung Gyu Kim
  • Roland Roberts

Abstract

This research suggests that consumers' marginal willingness to pay for environmental landscape attributes, such as water view, developed open space and forest-land open space, decreased during the 2008 recession compared to the 2000-2006 real estate boom. Estimates were obtained from a spatial hedonic housing price model after controlling for household location patterns and structural differences between the periods. Because the decline in amenity values was probably due to a temporary deterioration in economic conditions, the amenity values will probably rebound with economic recovery. Thus, development decisions based on the lower estimated amenity values measured during a temporary deterioration in economic conditions may be determined suboptimal post-economic recovery.

Suggested Citation

  • Seong-Hoon Cho & Seung Gyu Kim & Roland Roberts, 2011. "Values of environmental landscape amenities during the 2000-2006 real estate boom and subsequent 2008 recession," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 54(1), pages 71-91.
  • Handle: RePEc:taf:jenpmg:v:54:y:2011:i:1:p:71-91
    DOI: 10.1080/09640568.2010.502760
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    Citations

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    Cited by:

    1. Jay Mittal, 2017. "Valuing Visual Accessibility of Scenic Landscapes in a Single Family Housing Market: A Spatial Hedonic Approach," ERES eres2017_1, European Real Estate Society (ERES).
    2. Dan S. Rickman & Mouhcine Guettabi, 2015. "The Great Recession And Nonmetropolitan America," Journal of Regional Science, Wiley Blackwell, vol. 55(1), pages 93-112, January.
    3. repec:spr:endesu:v:19:y:2017:i:2:d:10.1007_s10668-015-9742-y is not listed on IDEAS
    4. Aaron Swoboda & Tsegaye Nega & Maxwell Timm, 2015. "Hedonic Analysis Over Time And Space: The Case Of House Prices And Traffic Noise," Journal of Regional Science, Wiley Blackwell, vol. 55(4), pages 644-670, September.
    5. repec:kap:enreec:v:68:y:2017:i:2:d:10.1007_s10640-016-0020-8 is not listed on IDEAS
    6. repec:eee:foreco:v:30:y:2018:i:c:p:25-31 is not listed on IDEAS
    7. repec:eee:ecoser:v:14:y:2015:i:c:p:1-11 is not listed on IDEAS

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