HOUSE PRICE IMPACTS OF RACIAL,INCOME, EDUCATION,AND AGE NEIGHBORHOOD SEGREGATION |
| |
| Authors: | David M Brasington Diane Hite Andres Jauregui |
| |
| Institution: | 1. Department of Economics, University of Cincinnati, Carl H. Lindner Hall, PO Box 0371, Cincinnati, OH;2. Department of Agricultural Economics and Rural Sociology, Auburn University, Auburn, AL;3. Department of Accounting and Finance, Columbus State University, 4225 University Avenue, Columbus |
| |
| Abstract: | We study housing prices and neighborhood segregation. We advance the literature by (1) studying not just racial segregation like previous studies, but also segregation by age, income, and education level, (2) using a finer unit of geography to construct segregation measures, (3) incorporating spatial statistics, and (4) separating segregation effects from underlying population level effects. We find race segregation is positively related to house prices, with an elasticity of 0.19. In contrast, income and educational segregation reduce housing values, with elasticities of ?0.23 and ?0.21. By comparison, house age has an elasticity of ?0.15. Age segregation is not generally capitalized. |
| |
| Keywords: | |
|
|
