Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Egg-Timer: Environmental Risks and Property Markets Location: D-110 Session Chair: Elizabeth Anderson, University of Wisconsin - Madison | |
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The Impact of a Historic Flood Event on the Housing Market: Evidence from Pittsburgh, United States 1: Penn State, United States of America; 2: University of Pittsburgh, United States of America This paper builds on a logic of repeat-sales model to evaluate the impact of the 1936 St. Patrick’s Day flood on housing values and monthly contract rents in Pittsburgh. Based on our preliminary findings, properties located in inundated areas experienced a 10.95% reduction in housing values and a 2.66% reduction in monthly rents relative to comparable non-inundated counterparts, for both owner-occupied and rented units. In addition, we estimate flood-induced welfare losses by applying the estimated reduction rates to affected properties in our sample. The resulting losses are about $32,208 for inundated owner-occupied properties and $6,903 for inundated rental properties. In total, the estimated losses are $39,111 in 1930 dollars, equivalent to approximately $0.755 million in 2025 dollars after adjusting for inflation. | |