Matches in SemOpenAlex for { <https://semopenalex.org/work/W3208970405> ?p ?o ?g. }
- W3208970405 abstract "Concerns about the lingering novel Coronavirus may have led to long-term structural change in desired dwelling locations in some large U.S. cities, such as New York City. Densely concentrated neighborhoods may be at higher risk of virus contagion, giving more individuals incentives to move out. We investigate whether this pandemic-induced disamenity adversely affected real estate prices of one- or two-family owner-occupied properties across New York City. First, OLS hedonic results indicate that greater COVID case numbers are concentrated in neighborhoods with lower-valued properties. Second, we use a repeat-sales approach for the period 2003 to 2020, and we find that both the fear of contagion and pandemic-induced income effects adversely impacted home sale prices. Estimates suggest sale prices fell by roughly $60,000 or around 8% in response to both of the following: 1,000 additional infections per 100,000 residents; and a 10-percentage point increase in unemployment in a given MODZCTA. These price effects were more pronounced during the second wave of infections. Based on cumulative MODZCTA infection rates through 2020, the estimated COVID-19 price discount ranged from approximately 1% to 50% in the most affected neighborhoods, and averaged 14%. Interestingly, the fear of contagion effect intensified in the more affluent, but less densely populated NYC neighborhoods, while the income effect was more pronounced in the most densely populated neighborhoods with more rental properties and greater population shares of foreign-born residents. This disparity implies the pandemic led to inequality between homeowners in lower-priced and higher-priced neighborhoods." @default.
- W3208970405 created "2021-11-08" @default.
- W3208970405 creator A5050823301 @default.
- W3208970405 creator A5053214460 @default.
- W3208970405 creator A5058413191 @default.
- W3208970405 date "2021-10-22" @default.
- W3208970405 modified "2023-09-27" @default.
- W3208970405 title "The Impact of the Coronavirus Pandemic on New York City Real Estate: First Evidence" @default.
- W3208970405 cites W1515084353 @default.
- W3208970405 cites W1978787692 @default.
- W3208970405 cites W2020351153 @default.
- W3208970405 cites W2051688880 @default.
- W3208970405 cites W2109109711 @default.
- W3208970405 cites W2173465678 @default.
- W3208970405 cites W3022086884 @default.
- W3208970405 cites W3034654667 @default.
- W3208970405 cites W3080222197 @default.
- W3208970405 cites W3123084929 @default.
- W3208970405 cites W3123458111 @default.
- W3208970405 cites W3129538679 @default.
- W3208970405 cites W3165626542 @default.
- W3208970405 cites W3209163988 @default.
- W3208970405 cites W90160891 @default.
- W3208970405 cites W2163295553 @default.
- W3208970405 hasPublicationYear "2021" @default.
- W3208970405 type Work @default.
- W3208970405 sameAs 3208970405 @default.
- W3208970405 citedByCount "0" @default.
- W3208970405 crossrefType "posted-content" @default.
- W3208970405 hasAuthorship W3208970405A5050823301 @default.
- W3208970405 hasAuthorship W3208970405A5053214460 @default.
- W3208970405 hasAuthorship W3208970405A5058413191 @default.
- W3208970405 hasConcept C10138342 @default.
- W3208970405 hasConcept C142724271 @default.
- W3208970405 hasConcept C144024400 @default.
- W3208970405 hasConcept C149923435 @default.
- W3208970405 hasConcept C162324750 @default.
- W3208970405 hasConcept C175444787 @default.
- W3208970405 hasConcept C17744445 @default.
- W3208970405 hasConcept C199539241 @default.
- W3208970405 hasConcept C205649164 @default.
- W3208970405 hasConcept C2778126366 @default.
- W3208970405 hasConcept C2779134260 @default.
- W3208970405 hasConcept C2908647359 @default.
- W3208970405 hasConcept C29122968 @default.
- W3208970405 hasConcept C3008058167 @default.
- W3208970405 hasConcept C4249254 @default.
- W3208970405 hasConcept C44648626 @default.
- W3208970405 hasConcept C50522688 @default.
- W3208970405 hasConcept C524204448 @default.
- W3208970405 hasConcept C71924100 @default.
- W3208970405 hasConcept C82279013 @default.
- W3208970405 hasConcept C85502023 @default.
- W3208970405 hasConcept C89623803 @default.
- W3208970405 hasConceptScore W3208970405C10138342 @default.
- W3208970405 hasConceptScore W3208970405C142724271 @default.
- W3208970405 hasConceptScore W3208970405C144024400 @default.
- W3208970405 hasConceptScore W3208970405C149923435 @default.
- W3208970405 hasConceptScore W3208970405C162324750 @default.
- W3208970405 hasConceptScore W3208970405C175444787 @default.
- W3208970405 hasConceptScore W3208970405C17744445 @default.
- W3208970405 hasConceptScore W3208970405C199539241 @default.
- W3208970405 hasConceptScore W3208970405C205649164 @default.
- W3208970405 hasConceptScore W3208970405C2778126366 @default.
- W3208970405 hasConceptScore W3208970405C2779134260 @default.
- W3208970405 hasConceptScore W3208970405C2908647359 @default.
- W3208970405 hasConceptScore W3208970405C29122968 @default.
- W3208970405 hasConceptScore W3208970405C3008058167 @default.
- W3208970405 hasConceptScore W3208970405C4249254 @default.
- W3208970405 hasConceptScore W3208970405C44648626 @default.
- W3208970405 hasConceptScore W3208970405C50522688 @default.
- W3208970405 hasConceptScore W3208970405C524204448 @default.
- W3208970405 hasConceptScore W3208970405C71924100 @default.
- W3208970405 hasConceptScore W3208970405C82279013 @default.
- W3208970405 hasConceptScore W3208970405C85502023 @default.
- W3208970405 hasConceptScore W3208970405C89623803 @default.
- W3208970405 hasLocation W32089704051 @default.
- W3208970405 hasOpenAccess W3208970405 @default.
- W3208970405 hasPrimaryLocation W32089704051 @default.
- W3208970405 hasRelatedWork W1520276044 @default.
- W3208970405 hasRelatedWork W2053181605 @default.
- W3208970405 hasRelatedWork W2063549090 @default.
- W3208970405 hasRelatedWork W2091872183 @default.
- W3208970405 hasRelatedWork W2140683218 @default.
- W3208970405 hasRelatedWork W2152061058 @default.
- W3208970405 hasRelatedWork W2192196408 @default.
- W3208970405 hasRelatedWork W2208708422 @default.
- W3208970405 hasRelatedWork W2573578599 @default.
- W3208970405 hasRelatedWork W2883690782 @default.
- W3208970405 hasRelatedWork W2983374158 @default.
- W3208970405 hasRelatedWork W2997048475 @default.
- W3208970405 hasRelatedWork W3086740633 @default.
- W3208970405 hasRelatedWork W3121393843 @default.
- W3208970405 hasRelatedWork W3122320378 @default.
- W3208970405 hasRelatedWork W3141308206 @default.
- W3208970405 hasRelatedWork W3150955947 @default.
- W3208970405 hasRelatedWork W3158046126 @default.
- W3208970405 hasRelatedWork W3164780631 @default.
- W3208970405 hasRelatedWork W3211598984 @default.
- W3208970405 isParatext "false" @default.