HOMEOWNERSHIP EXTERNALITIES, EVIDENCE FROM ROTTERDAM

Ruben Cox, Dirk Brounen and Peter Neuteboom

ERES from European Real Estate Society (ERES)

Abstract: Does homeownership benefit neighborhoods? We analyze two specific positive externalities of homeownership in neighborhoods: perceived safety and neighborhood satisfaction. Our analysis addresses two important questions: ëHow does the causal relation run between homeownership-rates and externalitiesí and ëIs this relationship linear in homeownership rates?í Using unique data on Rotterdamís neighborhoods over an eight year time-span, our evidence suggests that homeownership causes positive neighborhood externalities rather than good neighborhoods attracting owner-occupiers. However, the relationship does not seem to be linear, which means that from a policy-perspective, increasing homeownership-levels is not always effective in alleviating neighborhood distress and other socio-economic problems.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2010-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2010_037

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