[eNews] The Chilling Haunted House Market

Most homeowners might think that unreliable tenants are their worst nightmare. But even worse of all is when the tenant, unfortunately, passed away in your property and it becomes a “haunted house”. Whether you’re a sceptic or a firm believer in the mystical, haunted houses have a chilling ripple effect on the property market.

Professor Utpal BHATTACHARYA works with other scholars to examine the dark side of the property market and published a study of “Spillovers in Prices: The Curious Case of Haunted Houses”. This is the first study that attempts to decompose price drop stigmas of haunted houses. His study also looked at the ripple effect that causes property prices to plummet for years on end.      

His study is reported by the Economist.


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