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作者

Velma Zahirovic-Herbert;Karen M. Gibler

来源

HOUSING STUDIES,Vol.35,Issue2

语言

英文

关键字

作者单位

Department of Financial Planning, Housing and Consumer Economics, University of Georgia, Athens, GA, USA; ;School of Construction Economics & Management, University of the Witwatersrand, Braamfontein, Johannesburg, South Africa; ; Department of Real Estate, Georgia State University, Atlanta, GA, USA

摘要

Senior group housing that offers services signals that its residents have physical and/or cognitive limitations, which may be viewed as a neighbourhood disamenity. Buyers may discount house values near group homes due to negative perception of the residents or the structure. Most senior group home residents come from the surrounding community; therefore, residents of neighbourhoods with a large proportion of older residents may perceive nearby senior housing as desirable. We employ a system of equations to examine the influence of assisted living and nursing homes on single-family house sales prices and time-on-the market. The results indicate that the presence of a senior group home, especially a nursing home, within one-half mile has a significant negative effect on single-family house prices. The effect is most evident in neighbourhoods with few elderly residents. A clustering effect is present in non-distressed sales. The scale of a nearby senior group home contributes to a longer marketing duration, especially for distressed sales.