It may appear absurd to suppose that there's any connection between the quantity of same-sex homes and home prices, but David Christafore from Konkuk Varsity and Susane Leguizamo from Tulane University found it applicable, and they showed in their work about how homosexuals influence home pricesthat they were right. Home prices reflect people ' preferences for college quality, crime rates, the racial composition of the neighbourhood, and other social characteristics, so why they couldn't they reflect the level of tolerance for lesbians and gays as well?
Liberal Vs Conservative Areas
They discovered that the level of the neighbourhood's social liberalism has a serious impact on the results of a rise in gay homes on house price. In liberal areas, the presence of same-sex couples is affecting home prices definitely, while in conservative areas, they trigger a decrease in prices. They noted that in highly conservative areas, the addition of one more same-sex couple for every 1,000 households was connected with home prices decreasing by 1 percent. This is a big impact.
Interestingly , the results are driven by male couples. Same-sex female homes do not usually face the same biases as same-sex male couples, and that's strongly reflected in their effect on home prices. The influence of male households is higher than general results skewed by higher tolerance for lesbians.
The explanations for these effects are not only biases against gays. Families like living in areas where other families live and their kids can play together, so preference for married couples can play a major role. Nonetheless the work found that the effect of unmarried couples in conservative areas is positive, not negative. A different reason could be the positive result of same-sex homes in liberal neighbourhoods may be caused by specifics of these areas, especially positives of increased diversification. The authors say that the magnitude is analogous in both conservative and liberal areas and effectively cancel one another out, but instinctively liberal areas provide more opportunities and are likely more developed, so home prices are far more powerfully influenced by these effects as well.
Liberal Vs Conservative Areas
They discovered that the level of the neighbourhood's social liberalism has a serious impact on the results of a rise in gay homes on house price. In liberal areas, the presence of same-sex couples is affecting home prices definitely, while in conservative areas, they trigger a decrease in prices. They noted that in highly conservative areas, the addition of one more same-sex couple for every 1,000 households was connected with home prices decreasing by 1 percent. This is a big impact.
Interestingly , the results are driven by male couples. Same-sex female homes do not usually face the same biases as same-sex male couples, and that's strongly reflected in their effect on home prices. The influence of male households is higher than general results skewed by higher tolerance for lesbians.
The explanations for these effects are not only biases against gays. Families like living in areas where other families live and their kids can play together, so preference for married couples can play a major role. Nonetheless the work found that the effect of unmarried couples in conservative areas is positive, not negative. A different reason could be the positive result of same-sex homes in liberal neighbourhoods may be caused by specifics of these areas, especially positives of increased diversification. The authors say that the magnitude is analogous in both conservative and liberal areas and effectively cancel one another out, but instinctively liberal areas provide more opportunities and are likely more developed, so home prices are far more powerfully influenced by these effects as well.
No comments:
Post a Comment