earticle

영어

Public housing has raised concerns about potential negative externalities on neighborhoods due to stigma, segregation, and social discrimination. Previous studies using circular buffers to assess these effects on housing prices have produced inconsistent results. This study used elementary school district boundaries to define treatment and comparison groups as a more valid framework. The treatment group included homes within the same school district as the subject public rental housing (Dongnae Happy Housing project) while the comparison group included homes in adjacent districts. Using difference-in-difference analyses with sales transaction data from January 2017 to December 2023 in Busan, South Korea, we found that housing prices in the treatment group were approximately 8.38% lower than in the comparison group. An additional analysis using 500m and 500-1500m distance-based buffers yielded similar, though less statistically significant, results. These findings suggest that assessing the external effects of public housing requires more precise, contextually relevant methods for defining treatment and comparison groups.