Safe and Satisfied? External Effects of Homeownership in Rotterdam
Erasmus University Rotterdam (EUR) - Rotterdam School of Management (RSM)
Erasmus University Rotterdam (EUR) - Department of Financial Management; Erasmus Research Institute of Management (ERIM); Tinbergen Institute
Erasmus University Rotterdam (EUR) - Department of Financial Management
August 1, 2011
Urban Studies, Forthcoming
We analyse the impact of homeownership on neighbourhood safety and neighbourhood satisfaction, using a unique panel dataset for the city of Rotterdam. Our results show that there are significant, but economically small, effects of homeownership on safety and satisfaction. Moreover, the relation between ownership and satisfaction is significantly moderated by neighbourhood safety. We examine whether the marginal impact of increases in homeownership on external effects diminish once ownership levels are higher. According to our data this seems to be the case. The results are robust to alternative specifications. Our findings provide insights for the evaluation of housing market policies that subsidise or stimulate homeownership.
Number of Pages in PDF File: 39
Keywords: neighbourhood effects, homeownership, residential satisfaction, safety
JEL Classification: R23, R28, R30, R38Accepted Paper Series
Date posted: May 20, 2011 ; Last revised: October 26, 2011
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