Foreclosures and housing prices: does neighborhood configuration matter?

Geoffrey K. Turnbull () and Arno J. van der Vlist ()
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Geoffrey K. Turnbull: University of Central Florida
Arno J. van der Vlist: University of Groningen

The Annals of Regional Science, 2024, vol. 72, issue 2, No 6, 407-433

Abstract: Abstract This paper measures the extent to which effects of foreclosures vary across neighborhoods. It offers a simple empirical framework for decomposing the spillover effects on neighboring property prices. Data from Orange County, Florida, reveal that the effects systematically vary across neighborhoods by morphology. The results indicate that older, homogeneous age structure, and non-gated neighborhoods with high vacancy rates are most in jeopardy when foreclosures are present, as these neighborhoods show the greatest neighborhood house price effects.

JEL-codes: R31 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s00168-023-01206-5

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