Non-spatial Contagion in Real Estate Markets: The Case of Brookland Greens
We investigate contagion in real estate markets by evaluating the effects of a widely publicized landfill contamination event in one local market on the price of homes near landfills in non-impacted markets within the same metropolitan region. The impact of proximity to open, closed, and redeveloped...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis Group
2017-11-01
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| Series: | Journal of Sustainable Real Estate |
| Online Access: | http://dx.doi.org/10.1080/10835547.2017.12091898 |
| _version_ | 1797681257833824256 |
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| author | Kimberly Winson-Geideman Andy Krause Hao Wu Georgia Warren-Myers |
| author_facet | Kimberly Winson-Geideman Andy Krause Hao Wu Georgia Warren-Myers |
| author_sort | Kimberly Winson-Geideman |
| collection | DOAJ |
| description | We investigate contagion in real estate markets by evaluating the effects of a widely publicized landfill contamination event in one local market on the price of homes near landfills in non-impacted markets within the same metropolitan region. The impact of proximity to open, closed, and redeveloped landfills in the directly affected and contagion neighborhoods is tested at distances varying from <500 meters to 2,500 meters using the traditional hedonic pricing model. The results are mixed and relative to the current use of the landfill as closed, capped, and redeveloped landfills show no impact. Sites that are capped yet undeveloped and sites with open fills appear to show some impact, although further research is needed to support any contagion effects. |
| first_indexed | 2024-03-11T23:42:25Z |
| format | Article |
| id | doaj.art-b7ccc9d894e2453c9cfa9be1f27083f2 |
| institution | Directory Open Access Journal |
| issn | 1949-8276 1949-8284 |
| language | English |
| last_indexed | 2024-03-11T23:42:25Z |
| publishDate | 2017-11-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Journal of Sustainable Real Estate |
| spelling | doaj.art-b7ccc9d894e2453c9cfa9be1f27083f22023-09-19T15:22:16ZengTaylor & Francis GroupJournal of Sustainable Real Estate1949-82761949-82842017-11-0191224510.1080/10835547.2017.1209189812091898Non-spatial Contagion in Real Estate Markets: The Case of Brookland GreensKimberly Winson-Geideman0Andy Krause1Hao Wu2Georgia Warren-Myers3Kimberly Winson-Geideman, University of MelbourneAndy Krause, Greenfield Advisors, SeattleHao Wu, University of MelbourneGeorgia Warren-Myers, University of MelbourneWe investigate contagion in real estate markets by evaluating the effects of a widely publicized landfill contamination event in one local market on the price of homes near landfills in non-impacted markets within the same metropolitan region. The impact of proximity to open, closed, and redeveloped landfills in the directly affected and contagion neighborhoods is tested at distances varying from <500 meters to 2,500 meters using the traditional hedonic pricing model. The results are mixed and relative to the current use of the landfill as closed, capped, and redeveloped landfills show no impact. Sites that are capped yet undeveloped and sites with open fills appear to show some impact, although further research is needed to support any contagion effects.http://dx.doi.org/10.1080/10835547.2017.12091898 |
| spellingShingle | Kimberly Winson-Geideman Andy Krause Hao Wu Georgia Warren-Myers Non-spatial Contagion in Real Estate Markets: The Case of Brookland Greens Journal of Sustainable Real Estate |
| title | Non-spatial Contagion in Real Estate Markets: The Case of Brookland Greens |
| title_full | Non-spatial Contagion in Real Estate Markets: The Case of Brookland Greens |
| title_fullStr | Non-spatial Contagion in Real Estate Markets: The Case of Brookland Greens |
| title_full_unstemmed | Non-spatial Contagion in Real Estate Markets: The Case of Brookland Greens |
| title_short | Non-spatial Contagion in Real Estate Markets: The Case of Brookland Greens |
| title_sort | non spatial contagion in real estate markets the case of brookland greens |
| url | http://dx.doi.org/10.1080/10835547.2017.12091898 |
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