In these three essays, I examine the relationship between housing prices and civil disturbances. In the first essay, I examine the Ferguson Unrest in 2014 following the killing of Michael Brown. Using a hedonic model and a repeat sales model using data from ZTRAX, I find a highly significant negative affect around the events temporally and spatially. In the second essay I examine house price indices across the US during the onset of COVID and during the protests following the killing of George Floyd. I use the Zillow Home Value Index and I find cities which experienced protests experienced less growth than those which did not, and COVID requirements have a heterogeneous effect dependent on enforcement. The severity of the negative effect of the protest depends on protest size and the interaction between the COVID lockdown requirements. In the third and final essay, I continue using the Zillow Home Value Index and find the George Floyd protests had spillover effects into adjacent municipalities within the same metropolitan statistical area. Cities which experienced protests which resulted in a death experienced spillover effects with the adjacent municipalities having a statistically and economically significant reduction in housing price growth, but less severe than the city where the protest took place. Taken together the essays contribute to the literature on civil disturbances and their relationship with housing prices, the literature on crime and its relationship with housing prices, and the literature on COVID-19 restrictions and their relationship with housing
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Doctor of Philosophy (Ph.D.)
College of Business Administration
Business Administration; Finance Track
Length of Campus-only Access
Doctoral Dissertation (Open Access)
Ritchey, Noel, "Three Essays on Civil Disturbances, Crime, and Housing Markets" (2023). Electronic Theses and Dissertations, 2020-. 1777.