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Title: The Persisting Influence of Historical Marshes on the Rental Price of Housing in New York City 1830-1940

Citation Type: Miscellaneous

Publication Year: 2012

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Abstract: I propose that the distribution of housing prices within cities may result from the persistence of initial advantage from the time of settlement. I identify locations endowed with poor natural drainage, a disamenity before the installation of sewer pipes, and evaluate their influence on the rental price of housing in New York City near the time of settlement and again in 1940. I find that early aversion to historical marshes not only persists, but grows over time despite the introduction of water and sewer pipes that should have eliminated the initial disadvantage of marsh locations. This suggests that that initial conditions can set the long-run path of housing prices. I find that entrenchment mechanisms including the durability of structures, entrenchment of manufacturers, and segregation cannot fully account for the persistence. Similar initial conditions may help explain the distribution of housing prices in other cities.

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Authors: Villarreal, Carlos

Publisher: University of California - Los Angeles

Data Collections: IPUMS NHGIS

Topics: Housing and Segregation

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