Confederate Memorials and the Housing Market
45 Pages Posted: 10 Feb 2022
Date Written: January 31, 2022
Houses on streets with names that honor the Confederacy sell for 3% less than other similar nearby houses. The effect is concentrated outside the South and in regions with greater Black populations and more left-leaning voters, and it increases following attention-grabbing events that highlight the racial underpinnings of Confederate symbols. Confederate listings are also more likely to experience long durations and sell at large discounts relative to listing prices. Consistent with residential sorting, Confederate-memorial houses are less likely to be occupied by Black, college-educated, or Democratic-voting residents. The findings suggest that Confederate memorials can have direct effects on asset markets.
Keywords: Confederate Memorials, Housing Markets
JEL Classification: G12, D14, R31
Suggested Citation: Suggested Citation