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Association: Name: American Society of Criminology (ASC) URL: http://www.asc41.com
Citation: URL: http://www.allacademic.com/meta/p127410_index.html Direct Link: HTML Code:

Boggess, Lyndsay. and Tita, George. "The Impact of Crime on the Volume of Sales and Purchase Price in the Los Angeles Housing Market" Paper presented at the annual meeting of the American Society of Criminology (ASC), Los Angeles Convention Center, Los Angeles, CA, Nov 01, 2006 <Not Available>. 2008-12-11 <http://www.allacademic.com/meta/p127410_index.html>

Boggess, L. and Tita, G. , 2006-11-01 "The Impact of Crime on the Volume of Sales and Purchase Price in the Los Angeles Housing Market" Paper presented at the annual meeting of the American Society of Criminology (ASC), Los Angeles Convention Center, Los Angeles, CA <Not Available>. 2008-12-11 from http://www.allacademic.com/meta/p127410_index.html

Publication Type: Conference Paper/Unpublished Manuscript Abstract: While U.S. policy encourages homeownership, obtaining high levels of homeownership is challenging in low-income neighborhoods, partially due to higher levels of crime sometimes found in these neighborhoods. This paper contributes to the housing and economic development literature by testing the extent to which the disamenity of crime is capitalized into the housing markets, in both the volume of houses sold in the neighborhood and the sale price. By providing empirical evidence of some of these costs, the paper also contributes to the growing criminological literature on the costs of crime. Crime imposes direct costs on both victims and indirect costs on non-victims, who alter their routine activities. These costs are investigated by examining the relationships between increases in crime rates and residential decision-making. Much of the existing literature examines the impact of levels of crime rather than changes in crime. In a cross section, it is not surprising to find that house prices for constant-quality houses are lower in higher crime areas. So instead, census tract level panel data for Los Angeles, CA, is used to examine the impact of changes in violent and property crime rates on the housing markets over time. Hedonic regressions are used to estimate house prices as a function of the characteristics of the house, its location, the rate of turnover in the neighborhood, and changes in crime rates. Both the disaggregation of crime rates spatially and into violent and property crime are important. In addition, changes in crime rates over time are important.

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