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Gregory T. Niemesh, L. Allison Jones-Farmer, Joseph Hart, William Holmes and Nathan Soundappan
 
''The Impact of Land Bank Demolitions on Property Values''
( 2020, Vol. 40 No.1 )
 
 
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.
 
 
Keywords: Land Bank, Spatial Econometrics, Property Values
JEL: R3 - Production Analysis and Firm Location: General
R1 - General Regional Economics (includes Regional Data)
 
Manuscript Received : Jul 15 2019 Manuscript Accepted : Feb 05 2020

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