拆迁对底特律周边房产价值的影响

IF 3.2 3区 经济学 Q1 ECONOMICS Journal of Regional Science Pub Date : 2023-06-07 DOI:10.1111/jors.12654
Camila Alvayay Torrejón, Dusan Paredes, Mark Skidmore
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引用次数: 0

摘要

城市枯萎是一个复杂的问题,几十年来一直困扰着美国“锈带”地区的城市。然而,在房地产和金融危机之后,这对加州、亚利桑那州、内华达州和德克萨斯州等许多州的城市社区来说也是一个日益严峻的挑战。底特律受到的打击尤其严重,2014年发现了4万多座受损建筑。为了遏制枯萎病,该市动员了全国范围最广的拆迁计划。由联邦重灾区基金(HHF)资助的底特律拆迁计划于2014年开始,耗资超过2.5亿美元,拆除了20,800多处房产。此外,在2009年至2015年期间,该市拆除了11,400座含有石棉等有害物质的建筑物。在本文中,我们使用重复销售(RS)回归方法评估拆除对邻近物业价值的影响。具体而言,我们使用2009年至2019年的住房销售价格信息构建房地产价格指数。我们还依靠2009年底特律住宅调查的信息,在项目开始之前区分破旧和枯萎程度。平均而言,通过拆迁计划清除的枯萎病似乎没有被计入住宅房地产价格。然而,当考虑到事前计划财产特征的影响时,我们发现拆迁对拆迁前低枯萎程度地区的房地产价格有适度的积极影响。考虑到观察到的影响的大小和与拆除计划相关的高成本,我们的研究结果强调了进一步研究替代枯萎病清除策略的必要性,这些策略可能为这一城市挑战提供更具成本效益的解决方案。
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Impact of demolitions on neighboring property values in Detroit

Urban blight is a complex problem that has been challenging for cities in the United States “Rust Belt” region for many decades. However, in the wake of the real estate and financial crisis, it is also a growing challenge for urban communities in many states such as California, Arizona, Nevada, and Texas. Detroit was particularly hit hard, where more than 40,000 blighted structures were identified in 2014. To curb blight, the city mobilized the most extensive demolition program in the country. Funded through the Federal Hardest Hit Fund (HHF), the Detroit Demolition Program began in 2014 and has demolished more than 20,800 properties at the cost of over $250 million. Furthermore, during 2009–2015, the city demolished 11,400 structures with hazardous materials such as asbestos. In this article, we assess the impacts of demolitions on the value of neighboring properties using a Repeat Sales (RS) regression approach. Specifically, we use housing sales price information from 2009 through 2019 to construct real estate price indices. We also rely on information from the 2009 Detroit Residential Survey to differentiate by dilapidation and blight levels before the start of the program. On average, blight removal through the demolition program does not appear to have been capitalized into the residential property prices. However, when considering the effect of ex-ante program property characteristics, we find a modest positive effect of demolitions on property prices in areas with a low level of blight before the demolitions. Given the magnitude of the observed effect and the high costs associated with the demolition program, our results highlight the need for further research on alternative blight removal strategies that might provide a more cost-effective solution to this urban challenge.

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来源期刊
CiteScore
4.90
自引率
6.70%
发文量
54
期刊介绍: The Journal of Regional Science (JRS) publishes original analytical research at the intersection of economics and quantitative geography. Since 1958, the JRS has published leading contributions to urban and regional thought including rigorous methodological contributions and seminal theoretical pieces. The JRS is one of the most highly cited journals in urban and regional research, planning, geography, and the environment. The JRS publishes work that advances our understanding of the geographic dimensions of urban and regional economies, human settlements, and policies related to cities and regions.
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