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Detailed Description
Title
Assessing a Potential Correlation Between Housing Prices and School Quality, as Measured by Academic Performance Metrics
Department(s)
Economics
Creator(s)
Advisor(s)
Date of Original
5/21/2021
Physical Description
application/pdf
Description
In 2018, housing market-related spending was nearly 15% of the United States' GDP. Fixed investment in real estate accounted for roughly 3.3% of GDP and spending on housing services was about 12%. Owner-occupied real estate contributed to 25% of household net worth. The correlation between net worth and real estate makes housing a critical aspect of both day-to-day and future life ("Introduction to" 2019). Housing is not only an investment in net worth, but an investment in a family's future. A majority of homebuyers in a 2018 survey identified school quality as a dominant factor in their decision to purchase a house in a specific area. It is evident that buyers are willing to pay a premium for schools that are perceived to be a higher quality (Colley 2017). Westchester County, New York is one of the most expensive areas in the United States. There is a perception among homebuyers that Westchester County has some of the best schools in the country. High taxes, specifically property taxes, are often seen as a means to achieving better schools. However, even though Westchester County is known for better schools – home values often reflect this sentiment – it is critical to determine if there is actually a correlation between school quality and home values ("Why Are Our" 2010). This paper investigates if there is a correlation between school quality, as measured by a variety of performance metrics, and housing prices in Westchester County. Furthermore, this paper uses performance metrics to determine if there is a correlation between the achievement of different races in a school district and housing prices. Race based metrics, as measured by test scores for different ethnicities, will serve as specific markers of academic performance. If there is a connection between school quality (for all races) and housing prices, it is essential to determine if this correlation varies by race.
Genre
presentations (communicative events)
Publisher of Digital Record
Union College Schaffer Library Digital Projects
Source
Union College Schaffer Library Special Collections
Contact Information
Union College Schaffer Library Special Collections, 807 Union St., Schenectady, NY 12308; 518-388-6620; https://www.union.edu/schaffer-library
Harmful Language Statement
Subject headings