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100 _aOba, Tetsuharu
_954298
245 _aThe Price of Preserving Neighborhoods:
_bThe Unequal Impacts of Historic District Designation/
_cTetsuharu Oba
260 _bsage,
_c2020.
300 _aVol.34, issue 4, 2020: (343-355p.)
520 _aPolicies affecting cultural assets are popular yet imperfectly understood tools to shape local economic development. Historic preservation policies, for example, can have markedly different implications for original residents, prospective residents, and developers, even in the same city. Therefore, merely identifying its average effect can obscure important heterogeneity in its impact. This study examines the property value impacts of local and national historic districts across the distribution of property prices and how those differential impacts vary with the restrictiveness of the policy. A quantile regression model identifies the heterogeneity of effects among higher and lower end properties. The results reveal large differences between national and local districts, interior and buffer properties, and for different property values. These findings highlight the importance of and complexity in how housing markets react to attempts to guide local economic development.
650 _aPrice of Preserving
_954299
650 _aUnequal
_954300
650 _aUnequal
_954301
700 _aNoonan, Douglas Simpson
_eCo-author
_954302
773 0 _010589
_916747
_dSage Publisher
_tEconomic development quarterly
856 _uhttps://doi.org/10.1177/0891242420941932
942 _2ddc
_cART
999 _c13451
_d13451