The Impact of State Land-Use Controls on Residential Land Values
In this paper, we examine the effects of state land-use controls on the aggregate demand and supply of residential land. Previous studies have examined the effect of land-use regulation on housing prices using single-equation estimation. We estimate a three-equation intejurisdidional supply-demand model of land-use controls. Our results suggest that land-use regulations have a significant impact on both the demand and supply of residential land as expected.
James D. Shilling, C. F. Sirmans, Krisandra A. Guidry
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