Land of opportunity : early indicators of the opportunity zone program's impact on real estate transaction prices
This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections.
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| Format: | Thesis |
| Language: | eng |
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Massachusetts Institute of Technology
2020
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| Online Access: | https://hdl.handle.net/1721.1/123925 |
| _version_ | 1811071441264705536 |
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| author | Sage, Alan(Alan Robert) |
| author2 | David Geltner. |
| author_facet | David Geltner. Sage, Alan(Alan Robert) |
| author_sort | Sage, Alan(Alan Robert) |
| collection | MIT |
| description | This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. |
| first_indexed | 2024-09-23T08:51:00Z |
| format | Thesis |
| id | mit-1721.1/123925 |
| institution | Massachusetts Institute of Technology |
| language | eng |
| last_indexed | 2024-09-23T08:51:00Z |
| publishDate | 2020 |
| publisher | Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/1239252020-03-02T03:32:40Z Land of opportunity : early indicators of the opportunity zone program's impact on real estate transaction prices Early indicators of the opportunity zone program's impact on real estate transaction prices Sage, Alan(Alan Robert) David Geltner. Massachusetts Institute of Technology. Department of Urban Studies and Planning. Massachusetts Institute of Technology. Department of Urban Studies and Planning Urban Studies and Planning. This electronic version was submitted by the student author. The certified thesis is available in the Institute Archives and Special Collections. Thesis: M.C.P., Massachusetts Institute of Technology, Department of Urban Studies and Planning, 2019 Cataloged from student-submitted PDF version of thesis. Includes bibliographical references (pages 97-110). In December 2017, the U.S. Congress passed into law the Tax Cuts and Jobs Act, including provisions for the Opportunity Zone (OZ) program, which would offer significant tax benefits for investments in designated low-income census tracts. I specify a repeat sales price index using a Bayesian random walk model in order to compare the transaction prices of properties located in designated and eligible OZ census tracts and determine the premium associated with OZ designation. I find a significant positive impact on price levels associated with OZ designation ranging from 20% to 22%. I then analyze the performance of properties in designated and eligible tracts relative to properties in census tracts that narrowly missed the eligibility requirements, as a robustness check and to determine any expectation effect from OZ program eligibility. I find that the estimated impact of OZ designation remains relatively consistent, and that the estimated expectation impact of eligibility was insignificant in the best fit models. To interpret different magnitudes of price effects, I offer a framework of likely market causes and the impact on various stakeholders. by Alan Sage. M.C.P. M.C.P. Massachusetts Institute of Technology, Department of Urban Studies and Planning 2020-02-28T20:51:16Z 2020-02-28T20:51:16Z 2019 2019 Thesis https://hdl.handle.net/1721.1/123925 1140073251 eng MIT theses are protected by copyright. They may be viewed, downloaded, or printed from this source but further reproduction or distribution in any format is prohibited without written permission. http://dspace.mit.edu/handle/1721.1/7582 110 pages application/pdf Massachusetts Institute of Technology |
| spellingShingle | Urban Studies and Planning. Sage, Alan(Alan Robert) Land of opportunity : early indicators of the opportunity zone program's impact on real estate transaction prices |
| title | Land of opportunity : early indicators of the opportunity zone program's impact on real estate transaction prices |
| title_full | Land of opportunity : early indicators of the opportunity zone program's impact on real estate transaction prices |
| title_fullStr | Land of opportunity : early indicators of the opportunity zone program's impact on real estate transaction prices |
| title_full_unstemmed | Land of opportunity : early indicators of the opportunity zone program's impact on real estate transaction prices |
| title_short | Land of opportunity : early indicators of the opportunity zone program's impact on real estate transaction prices |
| title_sort | land of opportunity early indicators of the opportunity zone program s impact on real estate transaction prices |
| topic | Urban Studies and Planning. |
| url | https://hdl.handle.net/1721.1/123925 |
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