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Paper eres2010_037:
HOMEOWNERSHIP EXTERNALITIES, EVIDENCE FROM ROTTERDAM

id eres2010_037
authors Cox, Ruben; Brounen, Dirk; Neuteboom, Peter
year 2010
title HOMEOWNERSHIP EXTERNALITIES, EVIDENCE FROM ROTTERDAM
source 17th Annual European Real Estate Society Conference in Milan, Italy
summary 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: ‘How does the causal relation run between homeownership-rates and externalities’ and ‘Is this relationship linear in homeownership rates?’ Using unique data on Rotterdam’s 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.
keywords homeownership, externalities, neighborhood stability, safety, endogeniety
series ERES:conference
email rcox@rsm.nl
more http://www.eres2010.org/index.asp?page=papers_download
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ratings
session Urban & Housing Economics
last changed 2010/08/04 20:47
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