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| Gregory T. Niemesh, L. Allison Jones-Farmer, Joseph Hart, William Holmes and Nathan Soundappan |
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| ''The Impact of Land Bank Demolitions on Property Values'' |
| ( 2020, Vol. 40 No.1 ) |
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| A modern land bank is a public entity that purchases and demolishes blighted housing to remove negative externalities. We estimate the impact of land bank demolitions on surrounding property values for a medium-sized municipality. Using a spatial correction hedonic model of house prices, we find modest but imprecise increases in sales prices associated with land bank activity in a neighborhood. In general, the impact estimates we find are smaller than those found in the literature for a much larger metropolitan area. We speculate on the cause of this difference in findings. |
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| Keywords: Land Bank, Spatial Econometrics, Property Values |
JEL: R3 - Production Analysis and Firm Location: General
R1 - General Regional Economics (includes Regional Data) |
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| Manuscript Received : Jul 15 2019 | | Manuscript Accepted : Feb 05 2020 |
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