benefits of compact, mixed use development

This article attempts to determine whether or not the great recession had different impacts on home values due to urban form. It looks at three counties in the Portland, Oregon area. The author compared sale prices from homes sold in the pre-recession peak period and again in the bottom-period of the recession using data from Metro’s Regional Land Information System. A spatial lag model was used to determine whether new urbanist elements actually impact sale prices. New urbanist elements included accessible transit, walkability, available bike routes, residential density, use mix, and housing mix. The study found that proximity to downtown was significant in housing value retention, as was walkability and street connectivity. Transit and bike route accessibility, as well as use and housing mix, were found to be neutral. Residential density was found to be negatively correlated.