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When Walmart Comes to Town: Always Low Housing Prices? Always?

  • Devin G. Pope
  • Jaren C. Pope

Walmart often faces strong local opposition when trying to build a new store. Opponents often claim that Walmart lowers nearby housing prices. In this study we use over one million housing transactions located near 159 Walmarts that opened between 2000 and 2006 to test if the opening of a Walmart does indeed lower housing prices. Using a difference-in-differences specification, our estimates suggest that a new Walmart store actually increases housing prices by between 2 and 3 percent for houses located within 0.5 miles of the store and by 1 to 2 percent for houses located between 0.5 and 1 mile.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 18111.

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Date of creation: May 2012
Date of revision:
Publication status: published as Pope, Devin G. & Pope, Jaren C., 2015. "When Walmart comes to town: Always low housing prices? Always?," Journal of Urban Economics, Elsevier, vol. 87(C), pages 1-13.
Handle: RePEc:nbr:nberwo:18111
Note: LS PE
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