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Culture and Walkability: Ethnicity, Neighborhood Walkability, and House Price

  • 04-10-2023
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Abstract

The study investigates the impact of walkability on house prices and liquidity in the American housing market, focusing on the role of ethnic background in shaping preferences for walkable neighborhoods. Using data from Gwinnett County, Georgia, the authors find that walkability has varying effects across different price segments and ethnic groups. The analysis reveals that while walkability generally increases house prices in low-price segments, it has a negative effect in medium and high-price segments. Ethnic buyers exhibit distinct preferences, with Hispanic and Asian buyers showing a preference for walkable neighborhoods, while Indian buyers do not. The study also highlights the importance of considering both price and liquidity effects in walkability studies, as ignoring liquidity can lead to different empirical conclusions. The use of advanced statistical methods, including quantile regression and 3SLS models, sets this study apart from others in the field.

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Title
Culture and Walkability: Ethnicity, Neighborhood Walkability, and House Price
Authors
Debanjana Dey
Noel Ritchey
Geoffrey K. Turnbull
Velma Zahirovic-Herbert
Publication date
04-10-2023
Publisher
Springer US
Published in
The Journal of Real Estate Finance and Economics / Issue 2/2025
Print ISSN: 0895-5638
Electronic ISSN: 1573-045X
DOI
https://doi.org/10.1007/s11146-023-09963-y
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