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  • Thumbnail for Recessions and resorts: How macroeconomic decline affects ski resort economies
    Recessions and resorts: How macroeconomic decline affects ski resort economies

    This thesis is a study of the economies of ski resort towns before, during, and after economic recessions, in particular the Great Recession of the U.S. Ski resort towns often have limited (and relatively expensive) housing, which threatens these economics because of the heavy reliance on a large service-based workforce. This study compares small ski resort towns and rural non-resort towns using median home values as the dependent variable. The data was analyzed using ordinary least squares regression. This study aims determine how the housing situation in resort communities changes during times of economic decline and times of economic growth.

  • Thumbnail for The NWIMBY effect (no Walmart in my backyard) : big box stores and residential property values
    The NWIMBY effect (no Walmart in my backyard) : big box stores and residential property values by Fischer, Stephen , Lybecker, Kristina M. , Johnson, Daniel K. N. , Gurley, Nicole , Stiller-Shulman, Alex

    Recent Wal-Mart openings have been accompanied by public demonstrations against the company’s presence in the community, asserting (among other things) that their presence is deleterious to residential property values. This study empirically evaluates that claim, analyzing the spatial correlation between Wal-Mart locations and residential property values, while comparing Wal-Mart with other big-box retailers for a frame of reference and controlling for other important aspects of a home’s market value. We recognize that market value may represent a trade-off between price and patience, so perform a similar analysis using a property’s days on the market to evaluate any big-box effect. Finally, we interpret the resulting effects in two ways, from both the resident’s and retailer’s point of view, casting new light on the NWIMBY effect.