TY - JOUR
T1 - Foreclosures and housing prices
T2 - does neighborhood configuration matter?
AU - Turnbull, Geoffrey K.
AU - van der Vlist, Arno J.
N1 - Publisher Copyright:
© The Author(s) 2023.
PY - 2024/2
Y1 - 2024/2
N2 - This paper measures the extent to which effects of foreclosures vary across neighborhoods. It offers a simple empirical framework for decomposing the spillover effects on neighboring property prices. Data from Orange County, Florida, reveal that the effects systematically vary across neighborhoods by morphology. The results indicate that older, homogeneous age structure, and non-gated neighborhoods with high vacancy rates are most in jeopardy when foreclosures are present, as these neighborhoods show the greatest neighborhood house price effects.
AB - This paper measures the extent to which effects of foreclosures vary across neighborhoods. It offers a simple empirical framework for decomposing the spillover effects on neighboring property prices. Data from Orange County, Florida, reveal that the effects systematically vary across neighborhoods by morphology. The results indicate that older, homogeneous age structure, and non-gated neighborhoods with high vacancy rates are most in jeopardy when foreclosures are present, as these neighborhoods show the greatest neighborhood house price effects.
KW - R31
UR - http://www.scopus.com/inward/record.url?scp=85152083006&partnerID=8YFLogxK
U2 - 10.1007/s00168-023-01206-5
DO - 10.1007/s00168-023-01206-5
M3 - Article
AN - SCOPUS:85152083006
SN - 0570-1864
VL - 72
SP - 407
EP - 433
JO - The Annals of Regional Science
JF - The Annals of Regional Science
IS - 2
ER -