打印

作者

来源

REGIONAL SCIENCE AND URBAN ECONOMICS,Vol.66,P.39-51

语言

英文

关键字

Repeat sales regression model; Property values; Professional sports; Local externalities; IMPACT; AMENITIES; ARENAS; BERLIN; PRICES; LONDON

作者单位

[Humphreys, Brad R.; Nowak, Adam] West Virginia Univ, Coll Business & Econ, 1601 Univ Ave,POB 6025, Morgantown, WV 26506 USA. Humphreys, BR (reprint author), West Virginia Univ, Coll Business & Econ, 1601 Univ Ave,POB 6025, Morgantown, WV 26506 USA. E-Mail: brhumphreys@mail.wvu.edu; adam.d.nowak@gmail.com

摘要

Professional sports teams and facilities can generate negative or positive amenities to be capitalized into nearby property prices. We investigate the effect of the departure of two National Basketball Association teams in Seattle and Charlotte on nearby residential property values. Both arenas continued to operate after the teams left, so these departures represents a natural experiment to identify the net effects of a sports team separately from the effect of a facility and other events that take place in the facility. Results from a repeat sale regression model and hedonic price model indicate that the departure of the teams was associated with excess appreciation of condo prices near Key Arena and single family home prices near the Charlotte Arena, suggesting that the teams generated disamenities in these markets.