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.
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.
The 2014 legalization of cannabis sales in Colorado led to the promulgation of municipal regulations to mitigate potential negative effects of these newly licensed businesses on their surrounding communities. However, the rhetoric from opponents to legalization efforts has used “negative impacts on residential housing prices” as a primary argument. Of the three classes of regulatory licensing (retail stores, manufacturing facilities and cultivation operations), this study primarily analyzes retail stores in relation to residential housing prices. Though firms within each of these classes have the potential to affect surrounding residential property values in different ways, this study focuses on the retail store effect. Using six years of geo-coded data on home sales in Denver County, I analyze the effects of cannabis businesses on residential property values since legalization. I find that houses sold after the legalization of marijuana sell for a higher transaction price than houses sold before legalization, while closer proximity to marijuana businesses decreases the housing transaction price.