The Impact of Land Bank Demolitions on Property Values

Gregory Niemesh, L. Allison Jones-Farmer, Joseph Hart, William Holmes and Nathan Soundappan

MPRA Paper from University Library of Munich, Germany

Abstract: 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 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 (search for similar items in EconPapers)
JEL-codes: R3 R38 (search for similar items in EconPapers)
Date: 2019-05-29
New Economics Papers: this item is included in nep-geo and nep-ure
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https://mpra.ub.uni-muenchen.de/94193/1/MPRA_paper_94193.pdf original version (application/pdf)

Related works:
Journal Article: The Impact of Land Bank Demolitions on Property Values (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:94193

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