Thesis
Valuation of the Chicago metropolitan housing market relative to central business districts
Washington State University
Master of Science (MS), Washington State University
05/2020
DOI:
https://doi.org/10.7273/000004069
Handle:
https://hdl.handle.net/2376/125163
Abstract
In the valuation of the Chicago metropolitan housing market relative to new developed Dual Central Business District, I apply the regular and spatial hedonic model to estimate the MWTP in the targeted groups of homebuyers, high-income millennials. Using the demographic and housing mass appraisal data from the 2010 census tract and the Cook County assessor office in 2013 to 2019. In this paper, I provide the market insight into those real estate investors or developers to understand consumer behavior, while seeking higher model performance using the different econometric approach. Also, I derived the causal inference with the difference in difference estimator to analyze the market intervention caused by the commercial real estate market and affecting the surrounding residential housing market. Finally, the Decentralizing CBD market phenomenon can be treated as an urban development policy changes, this paper evaluates the welfare effects that which groups of homebuyers would gain and lose from this Dual CBD policy.
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Details
- Title
- Valuation of the Chicago metropolitan housing market relative to central business districts
- Creators
- Li Kai Chen
- Contributors
- Jill J McCluskey (Advisor) - Washington State University, School of Economic Sciences
- Awarding Institution
- Washington State University
- Academic Unit
- School of Economic Sciences
- Theses and Dissertations
- Master of Science (MS), Washington State University
- Publisher
- Washington State University
- Identifiers
- 99900890790701842
- Language
- English
- Resource Type
- Thesis