cover image: There goes the neighbourhood : How and why Bohemians, artists and gays affect regional housing values

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There goes the neighbourhood : How and why Bohemians, artists and gays affect regional housing values

19 Nov 2007

Florida (2002c) introduced a measure of observed locational preferences of the producers of artistic and cultural amenities, the “Bohemian Index,” and found it to be associated with concentrations of human capital and innovation. [...] Moreover, the relative importance of the parameters is expressed by the standardized path coefficients, which allow for interpretation of the direct as well as the indirect effects. [...] Looking at the various talent measures, the coefficient between human capital and housing (0.643) is about the same as for Bohemian-Gay Index, while the coefficients for the creative class (0.291). [...] When the Bohemian-Gay Index is included in the final version of the model (Eq 6) alongside both income and wages, the adjusted R2 increases to 0.675 and the coefficient remains positive and significant. [...] Furthermore, the Beta coefficients for the Bohemian-Gay Index and income are similar, and the t values are as well.
innovation education economics economy school housing entrepreneurship science and technology business economic growth economic theory human capital labour productivity retirement social sciences neighborhood further education creative class coefficient of determination gentrification structural equation modeling path analysis adjusted r2 structural equation models

Authors

Florida, Richard L

Pages
36
Published in
Canada

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