Fig. 1: Coastal and inland property values.
From: Policy and market forces delay real estate price declines on the US coast
Quality-adjusted baseline housing values are reflected in estimated county-year fixed effects for coastal (blue) and inland (black) counties in the United States. Each county-year fixed effect comes from a first-stage hedonic price function that estimates the natural log of property sales price, controlling for property characteristics, including square footage, bedrooms, bathrooms, lot size, and construction type, using 23,184,659 observations of property sales in the United States between 1989 and 2016. The first-stage hedonic regression was run in Stata/SE 18.0.
