| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25174 |
| 来源ID | Working Paper 25174 |
| Computer Vision and Real Estate: Do Looks Matter and Do Incentives Determine Looks | |
| Edward L. Glaeser; Michael Scott Kincaid; Nikhil Naik | |
| 发表日期 | 2018-10-22 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | How much does the appearance of a house, or its neighbors, impact its price? Do events that impact the incentives facing homeowners, like foreclosure, impact the maintenance and appearance of a home? Using computer vision techniques, we find that a one standard deviation improvement in the appearance of a home in Boston is associated with a .16 log point increase in the home’s value, or about $68,000 at the sample mean. The additional predictive power created by images is small relative to location and basic home variables, but external images do outperform variables collected by in-person home assessors. A home’s value increases by .4 log points, when its neighbor’s visually predicted value increases by one log point, and more visible neighbors have a larger price impact than less visible neighbors. Homes that went through foreclosure during the 2008-09 financial crisis experienced a .04 log point decline in their appearance-related value, relative to comparable homes, suggesting that foreclosures reduced the incentives to maintain the housing stock. We do not find more depreciation of appearance in rental properties, or more upgrading of appearance by owners before resale. |
| 主题 | Econometrics ; Estimation Methods ; Financial Economics ; Financial Institutions ; Regional and Urban Economics ; Real Estate ; Other ; Culture |
| URL | https://www.nber.org/papers/w25174 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582848 |
| 推荐引用方式 GB/T 7714 | Edward L. Glaeser,Michael Scott Kincaid,Nikhil Naik. Computer Vision and Real Estate: Do Looks Matter and Do Incentives Determine Looks. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w25174.pdf（1760KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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