经济与社会研究院SEMINAR第151期

题目：Not in my neighbour's back yard? Laneway homes and neighbours' property values

主讲人：Tsur Somerville，英属哥伦比亚大学

时间：2019年5月9日，13:30-15:00

地点：暨南大学中惠楼106B室

主讲人简介：

Dr. Tsur Somerville is an associate professor and holder of the Real Estate Foundation Professorship in Real Estate Finance at the Sauder School of Business at UBC.  He served for 15 years as the Director of the UBC Centre for Urban Economics and Real Estate, where he is now a Senior Fellow. His research on real estate development, mortgage and real estate finance, and housing markets has been published in the leading academic journals in urban, housing and real estate market. In addition to his academic research, Dr. Somerville is a frequent commentator in the local and national media on Canadian real estate markets. Dr. Somerville sits on the editorial boards of the leading journals in real estate and has served as an officer of several academic organizations in the field. He is currently a NAIOP Distinguished Fellow. Dr. Somerville received his Ph.D. in Economics from Harvard University and his BA in Economics and East Asian Studies from Hebrew University (Jerusalem).

Abstract：

Single family zoning is often defended by homeowners as necessary to preserve neighbourhood amenities, but blamed by economists for making housing less affordable by constraining supply. In 2009, the City of Vancouver (Canada) rezoned 95% of single family areas to allow small “laneway homes” behind main residential structures. The goal was to increase rental housing supply with minimal disruption to rezoned neighbourhoods. We exploit this regulatory change to estimate the magnitude of externalities from density. We find small and statistically insignificant average spillovers from the addition of laneway housing on the values of adjacent properties. Laneway homes’ impact is greater and statistically different from zeroon more expensive properties.