01474963

Component

https://doi.org/10.3141/2357-08

http://scholar.google.com...ncas&publication_year=2013

This paper investigates the hypothesis that houses located in proximity to limited-access roadways exhibit a resilience to price decline during and after exogenous market downturns. A quasi-experimental design was used to look for empirical evidence of price differentials before, during, and after construction and operation of network improvements. A spatial autoregressive difference-in-differences estimator with spatial disturbances was used to find evidence of price resilience in the aftermath of the real estate bubble affecting the local and state economy. Single-family homes exhibited a price premium ranging from 4.6% to 5.2% over their controls. These premium differentials were realized 4 to 5 years after the opening of the facilities and after the U.S. real estate market downturn. This paper contributes to the empirical literature by providing a quasi-experimental approach to the selection of comparable parcels for spatial hedonic regression.

01495200

13-0193

English

pp 66–76

2013

Transportation Research Record: Journal of the Transportation Research Board

9780309286732

Print

Figures (5) ; References (26) ; Tables (6)

Accessibility; Demographics; Expressways; Housing; Multiple regression analysis; Prices; Socioeconomic factors

Florida

Economics; Environment; Highways; Policy; Society; I10: Economics and Administration

TRIS, TRB, ATRI

Feb 5 2013 12:11PM

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