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THREE ESSAYS ON HOUSING MARKET AND SPATIAL DISAMENITIES

Cui, Lin (2011) THREE ESSAYS ON HOUSING MARKET AND SPATIAL DISAMENITIES. Doctoral Dissertation, University of Pittsburgh.

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    Abstract

    Spatial disamenities can affect neighborhood quality in many ways, and carefully quantifying such effects is essential for policy making. The first chapter of my dissertation focuses on the impact of foreclosures and vacancies on crime. To overcome confounding factors, a difference-in-difference research design is applied to a unique data set containing geocoded foreclosure and crime data from Pittsburgh, Pennsylvania. Results indicate that while foreclosure alone has no effect on crime, violent crime increases by more than 15% once the foreclosed home becomes vacant. The second chapter examines the spillover effects of foreclosures and vacancies on the quantities and prices of properties sold in neighboring areas using the same foreclosure data and similar econometric design. Estimation results show that both foreclosure and vacancy reduce the neighboring houses' probabilities of sale. Also, there is little impact on houses with lower quantity index, and the effects disappear when foreclosed house is reoccupied. This paper is the first study to document the quantity shifts of homes sold at the time of nearby foreclosure in different sections of the housing market as a result of changes in both the demand side and the supply side. The last chapter examines the impact of new shale gas drilling technologies in the Marcellus region on rural residential property values using data from three counties with most drilling activities in Pennsylvania. The results suggest that property values are negatively correlated with the presence of nearby gas wells, though the effects are not statistically significant. Due to mineral right transfer issues, the estimates in this study are the result of two competing effects. The estimated coefficients may be lower-bounds of the actual impact.


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    Item Type: University of Pittsburgh ETD
    Creators/Authors:
    CreatorsEmailORCID
    Cui, Linlic29@pitt.edu
    ETD Committee:
    ETD Committee TypeCommittee MemberEmailORCID
    Committee ChairWalsh, Randallwalshr@pitt.edu
    Committee MemberEpple, Dennisepple@cmu.edu
    Committee MemberHoekstra, Markmarkhoek@pitt.edu
    Committee MemberTroesken, Wernertroesken@pitt.edu
    Title: THREE ESSAYS ON HOUSING MARKET AND SPATIAL DISAMENITIES
    Status: Unpublished
    Abstract: Spatial disamenities can affect neighborhood quality in many ways, and carefully quantifying such effects is essential for policy making. The first chapter of my dissertation focuses on the impact of foreclosures and vacancies on crime. To overcome confounding factors, a difference-in-difference research design is applied to a unique data set containing geocoded foreclosure and crime data from Pittsburgh, Pennsylvania. Results indicate that while foreclosure alone has no effect on crime, violent crime increases by more than 15% once the foreclosed home becomes vacant. The second chapter examines the spillover effects of foreclosures and vacancies on the quantities and prices of properties sold in neighboring areas using the same foreclosure data and similar econometric design. Estimation results show that both foreclosure and vacancy reduce the neighboring houses' probabilities of sale. Also, there is little impact on houses with lower quantity index, and the effects disappear when foreclosed house is reoccupied. This paper is the first study to document the quantity shifts of homes sold at the time of nearby foreclosure in different sections of the housing market as a result of changes in both the demand side and the supply side. The last chapter examines the impact of new shale gas drilling technologies in the Marcellus region on rural residential property values using data from three counties with most drilling activities in Pennsylvania. The results suggest that property values are negatively correlated with the presence of nearby gas wells, though the effects are not statistically significant. Due to mineral right transfer issues, the estimates in this study are the result of two competing effects. The estimated coefficients may be lower-bounds of the actual impact.
    Date: 16 September 2011
    Date Type: Completion
    Defense Date: 18 July 2011
    Approval Date: 16 September 2011
    Submission Date: 27 July 2011
    Access Restriction: 5 year -- Restrict access to University of Pittsburgh for a period of 5 years.
    Patent pending: No
    Institution: University of Pittsburgh
    Thesis Type: Doctoral Dissertation
    Refereed: Yes
    Degree: PhD - Doctor of Philosophy
    URN: etd-07272011-123504
    Uncontrolled Keywords: Crime; Foreclosure; Housing; Shale Gas Drilling
    Schools and Programs: Dietrich School of Arts and Sciences > Economics
    Date Deposited: 10 Nov 2011 14:54
    Last Modified: 05 Jun 2012 15:26
    Other ID: http://etd.library.pitt.edu/ETD/available/etd-07272011-123504/, etd-07272011-123504

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