Open Daily: 10am - 10pm | Alley door pickup 10am - 7pm 3038 Hennepin Ave Minneapolis, MN
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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Effect of Base Realignment and Closure on Real Estate Values

Effect of Base Realignment and Closure on Real Estate Values

Mantovani, Kevin R.

Paperback

Real EstateGeneral EducationGeneral Political Science

ISBN10: 1288319517
ISBN13: 9781288319510
Publisher: Biblioscholar
Published: Nov 19 2012
Pages: 82
Weight: 0.28
Height: 0.17 Width: 6.14 Depth: 9.21
Language: English

This thesis offers a quasi-experimental analysis of the effect of a base closure (BRAC) on real estate values across a twenty-eight-community sample. A hedonic valuation model was used to estimate this effect in quasi-experimental setting on a sample population consisting of single-family homes aggregated by zip code census data surrounding twenty-eight active and closed military installations. A test for sample bias to evaluate the treatment and comparison samples was developed and tested on these data, confirming the appropriateness of the sample. This study has determined that an installation closure (BRAC) has no significant positive or negative effect on real estate values in the surrounding area. While there were communities in the sample that experienced very positive median home value growth between 1990 and 2000, and others whose homes declined in value, the overall impact of BRAC was not statistically different from zero. From a policy perspective, this study cannot identify whether government assistance programs associated with base closures may have served to offset any potentially negative effects on real estate values. As this study finds no significant relationship between BRAC and real estate values, the current policies designed to mitigate the potential ill effects of base closing on the local economy may be working as intended.

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