The Bargaining and Contagion Effects of Investors in Single Family Residential Properties: The Case of Denver Colorado

Cohen, Jeffrey P.; Harding, John P.

doi:10.1007/s11146-020-09766-5

Cited by 5 publications

(2 citation statements)

References 24 publications

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“…The Investor_Seller coefficient indicates that rental properties sell at a discount, another standard result in the literature (Turnbull & Zahirovic‐Herbert, 2012; Turnbull & van der Vlist, 2022). The variable Investor_Buyer indicates companies buying houses to rent pay lower prices, as in Cohen and Harding (2020) and Turnbull and van der Vlist (2022). The agent‐related variable coefficients indicate that listing and selling agents with more clients are associated with transactions at lower prices and longer TOM.…”

Section: Empirical Analysismentioning

confidence: 99%

Ethnicity in housing markets: Buyers, sellers and agents

Bikmetova

Turnbull

Zahirovic‐Herbert

2022

Real Estate Economics

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This paper examines how ethnicity related to cultural differences arising from ethnic background affects housing market transactions in the Atlanta metro area. Using both the US Census and Wikipedia approaches to infer ethnicity from individuals' names, we find that the interplay of buyer, seller, and agent ethnicity composition affects interaction in the housing market. Sellers working with listing agents in the same ethnic group set higher listing prices and enjoy higher selling prices and quicker sales. Agents working with same ethnicity buyers yield higher prices and liquidity. Even though sellers only communicate with buyers through their agents, houses sold by sellers to buyers of same ethnicity have higher prices and sell faster. And while the ethnic mix of agents and their clients matter, the ethnic mix of agents in the transaction does not.

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Section: Empirical Analysismentioning

confidence: 99%

Ethnicity in housing markets: Buyers, sellers and agents

Bikmetova

Turnbull

Zahirovic‐Herbert

2022

Real Estate Economics

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“…Finally, given that some single‐family and two‐family residential properties in NYC are rentals, we develop estimates of non‐investor‐owned properties. This is accomplished by following a methodology similar to that of Cohen and Harding ( 2020 ), where flags in the owner name field are used to filter out likely investor‐owned residential properties. For instance, if the owner name for a property contains one of the terms “LLC,” “CO,” “INC,” “DBA,” among others, the owner is flagged as an investor.…”

Section: Datamentioning

confidence: 99%

The impact of the Coronavirus pandemic on New York City real estate: First evidence

Cohen

Friedt

Lautier

2022

Journal of Regional Science

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We investigate whether pandemic‐induced contagion disamenities and income effects arising due to COVID‐related unemployment adversely affected real estate prices of one‐ or two‐family owner‐occupied properties across New York City (NYC). First, ordinary least squares hedonic results indicate that greater COVID case numbers are concentrated in neighborhoods with lower‐valued properties. Second, we use a repeat‐sales approach for the period 2003–2020, and we find that both the possibility of contagion and pandemic‐induced income effects adversely impacted home sale prices. Estimates suggest sale prices fell by roughly $60,000 or around 8% in response to both of the following: 1000 additional infections per 100,000 residents and a 10‐percentage point increase in unemployment in a given Modified Zip Code Tabulation Area (MODZCTA). These price effects were more pronounced during the second wave of infections. On the basis of cumulative MODZCTA infection rates through 2020, the estimated COVID‐19 price discount ranged from approximately 1% to 50% in the most affected neighborhoods, and averaged 14%. The contagion effect intensified in the more affluent, but less densely populated NYC neighborhoods, while the income effect was more pronounced in the most densely populated neighborhoods with more rental properties and greater population shares of foreign‐born residents. This disparity implies the pandemic may have been correlated with a wider gap in housing wealth in NYC between homeowners in lower‐priced and higher‐priced neighborhoods.

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Value of Communication and Social Media: An Equilibrium Theory of Messaging

Anglin

Gao

2021

J Real Estate Finan Econ

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The Bargaining and Contagion Effects of Investors in Single Family Residential Properties: The Case of Denver Colorado

Cited by 5 publications

References 24 publications

Ethnicity in housing markets: Buyers, sellers and agents

Ethnicity in housing markets: Buyers, sellers and agents

The impact of the Coronavirus pandemic on New York City real estate: First evidence

Value of Communication and Social Media: An Equilibrium Theory of Messaging

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