The value of residential land and structures during the great housing boom and bust

Nicolai Kuminoff, Jaren C. Pope

Research output: Contribution to journalArticle

18 Citations (Scopus)

Abstract

This study examines how the value of residential land and structures evolved during the great housing boom and bust, using data on more than a million residential properties that were sold in 10 metropolitan areas between 1998 and 2009. We use a hedonic estimator to disentangle the market value of land and structures at a local (Census tract) level. Our estimates reveal substantial heterogeneity in the evolution of the market value of land and structures within metropolitan areas. Surprisingly, lowervalue land at the urban fringes of metropolitan areas was the most volatile during the boom-bust.

Original languageEnglish (US)
Pages (from-to)1-29
Number of pages29
JournalLand Economics
Volume89
Issue number1
StatePublished - Feb 2013

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metropolitan area
market
census
land
Metropolitan areas
Market value
Residential property
Estimator
Census

ASJC Scopus subject areas

  • Economics and Econometrics
  • Environmental Science (miscellaneous)

Cite this

The value of residential land and structures during the great housing boom and bust. / Kuminoff, Nicolai; Pope, Jaren C.

In: Land Economics, Vol. 89, No. 1, 02.2013, p. 1-29.

Research output: Contribution to journalArticle

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