The DOI matches its Crossref record; 28 of the 28 references it cites were found in a registry or an index.
Rising sea levels and sinking property values: Hurricane Sandy and New York’s housing market
Abstract
Abstract This paper analyzes the effects of hurricane Sandy on the New York City housing market using a large parcel-level dataset that contains all housing sales for 2003–2017. The dataset also contains geo-coded FEMA data on which building structures were damaged by the hurricane and to what degree. Our estimates provide robust evidence of a persistent negative impact on flood zone housing values. We show the gradual emergence of a price penalty among flood zone properties that were not damaged by Sandy, reaching 8% in year 2017 and showing no signs of recovery. In contrast, damaged properties suffered a large immediate drop in value following the storm (17–22%), followed by a partial recovery and convergence toward a similar penalty as non-damaged properties. The partial recovery in the prices of damaged properties likely reflects their gradual restoration. However, the persistent price reduction affecting all flood-zone properties is more consistent with a learning mechanism. Hurricane Sandy may have increased the perceived risk of large-scale flooding episodes in that area.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
(2013) · Cited by 6,752
Do Better Schools Matter? Parental Valuation of Elementary Education
Black, S. E. (1999) · The Quarterly Journal of Economics · doi:10.1162/003355399556070 · Cited by 1,694
Oates, W. E. (1969) · Journal of Political Economy · doi:10.1086/259584 · Cited by 1,371
Disaster on the horizon: The price effect of sea level rise
Bernstein, A., Gustafson, M. T., & Lewis, R. (2019) · Journal of Financial Economics · doi:10.1016/j.jfineco.2019.03.013 · Cited by 890
A global ranking of port cities with high exposure to climate extremes
Hanson, S., Nicholls, R., Ranger, N., Hallegatte, S., Corfee-Morlot, J., Herweijer, C., & Chateau, J. (2011) · Climatic Change · doi:10.1007/s10584-010-9977-4 · Cited by 760
Learning about an Infrequent Event: Evidence from Flood Insurance Take-Up in the United States
Gallagher, J. (2014) · American Economic Journal: Applied Economics · doi:10.1257/app.6.3.206 · Cited by 476
Changes in implicit flood risk premiums: Empirical evidence from the housing market
Bin, O., & Landry, C. E. (2013) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2012.12.002 · Cited by 474
The Economic Impact of Hurricane Katrina on Its Victims: Evidence from Individual Tax Returns
Deryugina, T., Kawano, L., & Levitt, S. (2018) · American Economic Journal: Applied Economics · doi:10.1257/app.20160307 · Cited by 378
Market responses to hurricanes
Hallstrom, D. G., & Smith, V. K. (2005) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2005.05.002 · Cited by 337
The Fiscal Cost of Hurricanes: Disaster Aid versus Social Insurance
Deryugina, T. (2017) · American Economic Journal: Economic Policy · doi:10.1257/pol.20140296 · Cited by 308
Cited by
Giglio, S., Kelly, B., & Stroebel, J. (2021) · Annual Review of Financial Economics · doi:10.1146/annurev-financial-102620-103311 · Cited by 908
Disaster on the horizon: The price effect of sea level rise
Bernstein, A., Gustafson, M. T., & Lewis, R. (2019) · Journal of Financial Economics · doi:10.1016/j.jfineco.2019.03.013 · Cited by 890
Underwaterwriting: from theory to empiricism in regional mortgage markets in the U.S.
Keenan, J. M., & Bradt, J. T. (2020) · Climatic Change · doi:10.1007/s10584-020-02734-1 · Cited by 80
Climate gentrification in Miami: A real climate change-minded investment practice?
Li, H., & Grant, R. J. (2022) · Cities · doi:10.1016/j.cities.2022.104025 · Cited by 29
Metadata
- Authors
- Ortega, F., & Taṣpınar, S.
- Venue
- Journal of Urban Economics
- Publisher
- Elsevier BV
- Published
- 2018-07
- Volume
- 106
- Pages
- 81-100
- ISSN
- 0094-1190 (ISSN-L)
- OpenAlex
- W2808838487
- Cited by
- 265
- References
- 28
- FWCI
- 28.21
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Rising sea levels and sinking property values: Hurricane Sandy and New York’s housing market. https://app.cochat.ai/papers/10.1016/j.jue.2018.06.005
- The paper
- Ortega, F., & Taṣpınar, S. (2018). Rising sea levels and sinking property values: Hurricane Sandy and New York’s housing market. Journal of Urban Economics. https://doi.org/10.1016/j.jue.2018.06.005
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
