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A Hedonic Approach To Residential Succession

Author

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  • BOND, E.W.
  • COULSON, N.E.

Abstract

A model of neighborhood turnover drawn from Bond and Coulson (1989) is proposed. The type of turnover process that is obtained is shown to depend mainly on the hedonic bid functions for housing and neighborhood quality. A demand system of four hedonic attributes is estimated. The main results are that the traditional model of filtering by age of unit does not occur and that filtering by housing size does. Tipping due to changes in median neighborhood income is also quite possible. Tipping through changes in racial composition appears less likely. Copyright 1990 by MIT Press.
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Suggested Citation

  • Bond, E.W. & Coulson, N.E., 1988. "A Hedonic Approach To Residential Succession," Papers 2-88-1, Pennsylvania State - Department of Economics.
  • Handle: RePEc:fth:pensta:2-88-1
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    Cited by:

    1. Li, Qiang, 2014. "Ethnic diversity and neighborhood house prices," Regional Science and Urban Economics, Elsevier, vol. 48(C), pages 21-38.
    2. Patrick Bajari & Matthew E. Kahn, 2005. "Estimating Housing Demand With an Application to Explaining Racial Segregation in Cities," Journal of Business & Economic Statistics, American Statistical Association, vol. 23, pages 20-33, January.
    3. Salazar, Xavier & Atienza, Miguel, 2010. "Las empresas en Santa Cruz, ¿continúan en una estructura monocéntrica?," Revista Latinoamericana de Desarrollo Economico, Instituto de Investigaciones Socio-Económicas (IISEC), Universidad Católica Boliviana, issue 13, pages 59-90.
    4. McKinnish, Terra & Walsh, Randall & Kirk White, T., 2010. "Who gentrifies low-income neighborhoods?," Journal of Urban Economics, Elsevier, vol. 67(2), pages 180-193, March.
    5. Jan K. Brueckner & Stuart S. Rosenthal, 2009. "Gentrification and Neighborhood Housing Cycles: Will America's Future Downtowns Be Rich?," The Review of Economics and Statistics, MIT Press, vol. 91(4), pages 725-743, November.
    6. repec:pal:jorsoc:v:57:y:2006:i:11:d:10.1057_palgrave.jors.2602130 is not listed on IDEAS
    7. Ioannides, Yannis M., 2002. "Residential neighborhood effects," Regional Science and Urban Economics, Elsevier, vol. 32(2), pages 145-165, March.
    8. Rosenthal, Stuart S., 2008. "Old homes, externalities, and poor neighborhoods. A model of urban decline and renewal," Journal of Urban Economics, Elsevier, vol. 63(3), pages 816-840, May.
    9. C. Tsuriel Somerville & Christopher J. Mayer, 2003. "Government regulation and changes in the affordable housing stock," Economic Policy Review, Federal Reserve Bank of New York, issue Jun, pages 45-62.
    10. Çağlayan Ebru & Arikan Eban, 2011. "Determinants of house prices in Istanbul: a quantile regression approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 45(2), pages 305-317, February.
    11. V. Smith & Jared Carbone & Jaren Pope & Daniel Hallstrom & Michael Darden, 2006. "Adjusting to natural disasters," Journal of Risk and Uncertainty, Springer, vol. 33(1), pages 37-54, September.
    12. Coulson, N Edward & Leichenko, Robin M, 2001. "The Internal and External Impact of Historical Designation on Property Values," The Journal of Real Estate Finance and Economics, Springer, vol. 23(1), pages 113-124, July.
    13. van Duijn, Mark & Rouwendal, Jan & Boersema, Richard, 2016. "Redevelopment of industrial heritage: Insights into external effects on house prices," Regional Science and Urban Economics, Elsevier, vol. 57(C), pages 91-107.
    14. Ioannides, Yannis M., 2003. "Interactive property valuations," Journal of Urban Economics, Elsevier, vol. 53(1), pages 145-170, January.
    15. Jill J. McCluskey & Gordon C. Rausser, 2003. "Stigmatized Asset Value: Is It Temporary or Long-Term?," The Review of Economics and Statistics, MIT Press, vol. 85(2), pages 276-285, May.
    16. Stuart S. Rosenthal, 2014. "Are Private Markets and Filtering a Viable Source of Low-Income Housing? Estimates from a "Repeat Income" Model," American Economic Review, American Economic Association, vol. 104(2), pages 687-706, February.
    17. Philippe Cyrenne & Robert Fenton & Joseph Warbanski, 2006. "Historic Buildings and Rehabilitation Expenditures: A Panel Data Approach," Journal of Real Estate Research, American Real Estate Society, vol. 28(4), pages 349-380.

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