Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/99116 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
Public Policy Discussion Papers No. 13-2
Verlag: 
Federal Reserve Bank of Boston, Boston, MA
Zusammenfassung: 
We explore several different explanations of the effect of foreclosures on neighboring properties using a dataset of transactions in Boston, for which we have rich data on the size and location of condominium associations. There is compelling evidence against a supply effect-nearby condo foreclosures in different associations, and even those within the same association but at different physical addresses, have little impact on condo sale prices. However, condos transact at average discounts of 2.4 percent when a foreclosure shares the same physical address. We view the results as indicating that investment externalities drive foreclosures' impacts on neighboring house prices.
JEL: 
G21
K11
R31
Dokumentart: 
Working Paper

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