Summary Of Article

The Effect of Open Space on Home s barter PriceThe The Effect of Open Spaces on a Home s cut-rate sale Price tries to establish relations between home s coat and its sales bell . The authors of the examine the prices for single-family reside in Portland during the period of time 1990-19992 . Introduction section sums up the current situation regarding the lax homes in the United stated . It is noted that in the course of study of 1995 Portland passed a ballot measure in to raise millions of dollars for acquire open spaces . Actually , open spaces atomic number 18 spaces which involve cemeteries , play game courses and commonaltying areas Therefore , the aims at investigating feat on sales price of a home resulting from proximity to various open space instancesThe extends existing knowledge by dividing park category into three new types - natural area park , urban park and specialty park . The findings presented in the glint the benefit of preserving open spaces as transmitted through the trapping market . Actually , the authors concentrate on private benefits out-of-pocket to involving statistical techniques . Nevertheless , the author doesn t address in the oblige the issues of reduced soil erosion , improved quality of urine , wildlife habitat . It is necessary to admit that the provides also overview of hedonic price possible action and the functional form .

It is suggested that hedonic price theory views a home as bundle of attributes , primarily its morphologic and environmental characteristics as well as the attributes of the surrounding neighborhoodAfter studying the subjects , the authors provide relevant conclusions summing up main achievements and points . They conclude that , match to empirical results , open space does have strong imprint on house prices , though this effect depends on the type of open space and distance from the home to the open space . For example , natural area parks have the largest effect on housing price being followed by golf courses and specialty facilities . The proximity to urban parks , where negative externalities are a real problem , provides the smallest effect on house sale priceReferencesLutzenhiser , M Netusil , N (2001 , July .The Effect of Open Spaces on a Home s Sale Price . Contemporary economic Policy , 19 , 3 , 291-298PAGEPAGE 1...If you want to get a full essay, order it on our website: Orderessay

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