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Inner-City Neighbourhood Changes Predicted from House Prices in Windsor, Ontario, since the Early- or Mid-1980s

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Document pages: 23 pages

Abstract: Changesin prices of homes are hypothesized as correlated with the times of their saleand resale and the attributes of their dwelling unit and neighbourhood andthose of neighbouring homes. They may also be correlated with the occurrencesof events inside the neighbourhoods caused by the activities of individuals and organizations outside theneighbourhoods, such as whether the local economy is in a recession or has ahigh unemployment rate. Calibrated hybrid housing price models predictprecipitous decreases in house prices of approximately 2900 sold and resoldhomes in two inner-city neighbourhoods inWindsor, Ontario, during those events since 1981 or 1986. Overall modestpredicted percentage increases in houses’ prices during more than 30 yearstherefore subsumed periods of inner-city neighbourhood deterioration in dispersed locations of unimproved and disimprovedhomes. Compensatory predictions however are of increasing prices for minoritiesof homes with improvements to several attributes of the dwelling unit andneighbourhood.

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