The Effects of Land-Use Constraints on Housing Prices
A study estimates the direct and spillover effects of zoning controls, along with other growth restrictions on housing prices. Theory leads to the expectation of a positive effect of land-use restrictions on the price of developed land and a negative effect on the price of undeveloped land. To focus...
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| Veröffentlicht in: | Land economics 1990-08, Vol.66 (3), p.315-324 |
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| creator | Pollakowski, Henry O. Wachter, Susan M. |
| description | A study estimates the direct and spillover effects of zoning controls, along with other growth restrictions on housing prices. Theory leads to the expectation of a positive effect of land-use restrictions on the price of developed land and a negative effect on the price of undeveloped land. To focus on small areas within a county, a pooled cross-section times series data set is employed, constructed from the files of the Montgomery County (Maryland) Planning Board. These data follow 17 planning area groups within the county for the 6-year period 1982-1987. The study focuses on the owner-occupied single-family housing market. Results indicate that land-use regulations raise housing and developed land prices within a locality and demonstrate that spillover effects exist across localities. They also indicate that the effects of zoning and growth management controls taken together exceed their impact when separately measured. Even if there was no spillover impact on land prices, restrictions could cause development to be inefficiently dispersed. |
| doi_str_mv | 10.2307/3146732 |
| format | Article |
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Theory leads to the expectation of a positive effect of land-use restrictions on the price of developed land and a negative effect on the price of undeveloped land. To focus on small areas within a county, a pooled cross-section times series data set is employed, constructed from the files of the Montgomery County (Maryland) Planning Board. These data follow 17 planning area groups within the county for the 6-year period 1982-1987. The study focuses on the owner-occupied single-family housing market. Results indicate that land-use regulations raise housing and developed land prices within a locality and demonstrate that spillover effects exist across localities. They also indicate that the effects of zoning and growth management controls taken together exceed their impact when separately measured. 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Even if there was no spillover impact on land prices, restrictions could cause development to be inefficiently dispersed.</description><subject>Analysis</subject><subject>Area planning & development</subject><subject>Construction costs</subject><subject>Construction price indexes</subject><subject>Cost estimates</subject><subject>Dwellings</subject><subject>Economics</subject><subject>Effects</subject><subject>Employment indices</subject><subject>Housing</subject><subject>Housing price indices</subject><subject>Housing prices</subject><subject>Income estimates</subject><subject>Interpretation and construction</subject><subject>Land development</subject><subject>Land economics</subject><subject>Land use</subject><subject>Laws, regulations and rules</subject><subject>Maryland</subject><subject>Prices</subject><subject>Prices and rates</subject><subject>Statistical analysis</subject><subject>Studies</subject><subject>Urban economics</subject><subject>Zoning</subject><subject>Zoning 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M.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>The Effects of Land-Use Constraints on Housing Prices</atitle><jtitle>Land economics</jtitle><date>1990-08-01</date><risdate>1990</risdate><volume>66</volume><issue>3</issue><spage>315</spage><epage>324</epage><pages>315-324</pages><issn>0023-7639</issn><eissn>1543-8325</eissn><coden>LAECAD</coden><abstract>A study estimates the direct and spillover effects of zoning controls, along with other growth restrictions on housing prices. Theory leads to the expectation of a positive effect of land-use restrictions on the price of developed land and a negative effect on the price of undeveloped land. To focus on small areas within a county, a pooled cross-section times series data set is employed, constructed from the files of the Montgomery County (Maryland) Planning Board. These data follow 17 planning area groups within the county for the 6-year period 1982-1987. The study focuses on the owner-occupied single-family housing market. Results indicate that land-use regulations raise housing and developed land prices within a locality and demonstrate that spillover effects exist across localities. They also indicate that the effects of zoning and growth management controls taken together exceed their impact when separately measured. Even if there was no spillover impact on land prices, restrictions could cause development to be inefficiently dispersed.</abstract><cop>Chicago</cop><pub>University of Wisconsin Press</pub><doi>10.2307/3146732</doi><tpages>10</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0023-7639 |
| ispartof | Land economics, 1990-08, Vol.66 (3), p.315-324 |
| issn | 0023-7639 1543-8325 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_37024828 |
| source | Periodicals Index Online; EBSCOhost Business Source Complete; JSTOR Archive Collection A-Z Listing |
| subjects | Analysis Area planning & development Construction costs Construction price indexes Cost estimates Dwellings Economics Effects Employment indices Housing Housing price indices Housing prices Income estimates Interpretation and construction Land development Land economics Land use Laws, regulations and rules Maryland Prices Prices and rates Statistical analysis Studies Urban economics Zoning Zoning law Zoning ordinances |
| title | The Effects of Land-Use Constraints on Housing Prices |
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