The Impact of Land Bank Demolitions on Property Values

Gregory Niemesh, L. Allison Jones-Farmer (), Joseph Hart (), William Holmes () and Nathan Soundappan ()
Additional contact information
L. Allison Jones-Farmer: Miami University
Joseph Hart: Miami University
William Holmes: Miami University
Nathan Soundappan: Miami University

Economics Bulletin, 2020, vol. 40, issue 1, 217-233

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 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 (search for similar items in EconPapers)
JEL-codes: R1 R3 (search for similar items in EconPapers)
Date: 2020-02-05
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: The Impact of Land Bank Demolitions on Property Values (2019)
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