' The Impact of the Miami Metrorail on the Value of Residences near Station Locations,' Regional Science and Urban Economics, Elsevier, vol. ' Estimating the value of a new transit option,' ' Investigating Causal Relations by Econometric Models and Cross-Spectral Methods,'Įconometrica, Econometric Society, vol. Giglio, Stefano & Pathak, Parag & Campbell, John Y., 2011.ĩ887623, Harvard University Department of Economics.Campbell & Stefano Giglio & Parag Pathak, 2009.ġ4866, National Bureau of Economic Research, Inc. Campbell & Stefano Giglio & Parag Pathak, 2011.Īmerican Economic Review, American Economic Association, vol. ' Rail transit investment and property values: An old tale retold,' Transportation Research Part A: Policy and Practice, Elsevier, vol. ' A meta-analysis of the impact of rail projects on land and property values,' Real Estate Economics, American Real Estate and Urban Economics Association, vol.

' Reaction of House Prices to a New Rapid Transit Line: Chicago's Midway Line, 1983–1999,' ' Does public transit spread crime? Evidence from temporary rail station closures,' The Review of Regional Studies, Southern Regional Science Association, vol. ' Silence is Golden: Railroad Noise Pollution and Property Values,' ' The Impact of Railway Stations on Residential and Commercial Property Value: a Meta Analysis,' Ghebreegziabiher Debrezion & Eric Pels & Piet Rietveld, 2004.The Journal of Real Estate Finance and Economics, Springer, vol. ' The Impact of Railway Stations on Residential and Commercial Property Value: A Meta-analysis,' Ghebreegziabiher Debrezion & Eric Pels & Piet Rietveld, 2007.Journal of Urban Economics, Elsevier, vol. ' Identifying the Impacts of Rail Transit Stations on Residential Property Values,' ' Commuter rail accessibility and house values: The case of the Montreal South Shore, Canada, 1992–2009,' Dubé, Jean & Thériault, Marius & Des Rosiers, François, 2013.' A Theory of Liquidity in Residential Real Estate Markets,' ' Mostly Harmless Econometrics: An Empiricist's Companion,' ' Valuing Rail Access Using Transport Innovations,'ĭp0611, Centre for Economic Performance, LSE. LSE Research Online Documents on Economicsġ9989, London School of Economics and Political Science, LSE Library. ' Valuing rail access using transport innovations,' Gibbons, Stephen & Machin, Stephen, 2004.Our results highlight the potential negative effects of light rail when potential accessibility benefits do not out weigh apparent local costs. Properties within 1500 meters experienced a decline in sale price of nearly 8%, while the sale-list price spread declined by approximately 2%. Overall, the results show negative consequences from the constructed light rail line. Our identification strategy exploits a proposed rail line in neighboring Virginia Beach, Virginia that was rejected by a referendum in 1999. We estimate the effect of the Tide using a difference-in-differences model and consider several outcome variables for the residential housing market, including sale price, sale-list price spread and the time-on-market. Norfolk's Tide light rail began operations in August of 2011 and has experienced disappointing levels of ridership compared to other light rail systems. In this paper we examine the effect of light rail transit on the residential real estate market in Hampton Roads, Virginia.

Virginia beach light rail route