Big Tech on the Block: Examining the Impact of Tech Campuses on Local Housing Markets in the San Francisco Bay Area

Chapple, Karen; Jeon, Jae Sik

doi:10.1177/08912424211036180

Cited by 8 publications

(3 citation statements)

References 45 publications

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“…Although few studies have examined the determinants of Fintech and Bigtech credit (Arslanian and Fischer, 2019;Menat, 2016), no studies have examined the macro-financial determinants of Fintech and Bigtech lending. This study is different from prior studies that provide case studies about how specific Fintech or Bigtech credit products improve access to finance (Balyuk et al, 2020;Chapple and Jeon, 2021). This study is also different from other studies that focus on the disruption caused by Fintech and Bigtech players (Vives, 2019).…”

Section: Introductionmentioning

confidence: 70%

Determinants of Fintech and Bigtech Lending: the Role of Financial Inclusion and Financial Development

Ozili¹

2023

SSRN Journal

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Section: Introductionmentioning

confidence: 70%

Determinants of Fintech and Bigtech Lending: the Role of Financial Inclusion and Financial Development

Ozili¹

2023

SSRN Journal

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“…They found the opposite was significant with Walmart stores increasing housing prices by 2% to 3% for houses located within 0.5 miles of the store and by 1% to 2% for houses located between 0.5 and 1 mile. Chapple and Jeon (2021) investigated the relationship between the big tech corporate campuses and Silicon Valley housing markets using the Zillow transaction and tax assessor data. They revealed that housing prices near the tech campus increased by 7%.…”

Section: Literature Reviewmentioning

confidence: 99%

Housing market price movements under tech industry expansion during COVID-19

Jiao

Bhat

Azimian

et al. 2022

IJHMA

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Purpose This study aims to analyze the impact of technology-based corporation relocation on housing price indices during COVID-19 within the metropolitan areas of Austin, Texas and Seattle/Bellevue, Washington.The corporations under observation were Tesla and Amazon, respectively. The analysis intends to understand economic drivers behind the housing market and the radius of its effect while including fixed and random effects. Design/methodology/approach This study used a difference-in-difference (DID) method to evaluate changes in housing price index near and further away from Tesla’s and Amazon’s new corporate locations. The DID method allows for the capture of unique regional characteristics, as it requires a treatment and control group: housing price index and 5-mile and 10-mile search radii centered from the new corporate location. Findings The results indicated that corporate relocation announcements had a positive effect on housing price index post-pandemic. Specifically, the effect of Tesla’s relocation in Austin on the housing price index was not concentrated near the relocation site, but beyond the 5- and 10-mile radii. For Seattle/Bellevue, the effect of Amazon’s relocation announcement on housing price index was concentrated near the relocation site as well as beyond a 10-mile radius. Interestingly, these findings suggest housing markets incorporate speculation of prospective economic expansion linked with a corporate relocation. Originality/value Previous literature assessed COVID-19 housing market conditions and the economic effects of corporate relocation separately, whereas this study analyzed the housing price effects of corporate relocation during COVID-19. The DID method includes spatial and temporal analyses that allow for the impact of housing price to be observed across specified radii rather than a city-wide impact analysis.

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“…They could develop retraining programs to help workers with low levels of formal education and upgrade skills for the new jobs created by OFDIs. City-regions may also want to consider how firms' OFDI activities relate to corporate expansion processes and potentially put pressure on housing markets (Chapple and Jeon, 2021). What is important to note here is that these city-regions are not only in vital need for specific policy interventions; but because of successful OFDI activity and ongoing international engagement, they also benefit from high tax revenues and are, thus, in a position to actively engage in the public policies needed to reduce income polarization.…”

Section: Cr 333mentioning

confidence: 99%

OFDI activity and urban-regional development cycles: a co-evolutionary perspective

Bathelt

Buchholz

Cantwell

2022

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Purpose While conventional views of foreign investment activity primarily relate to efficiency-seeking investments, the authors argue that most other outward foreign direct investments (OFDIs) likely have positive effects on income development in the home region. Data on the US urban system not only illustrates this but also shows that this impact is not equal in all city-regions. The purpose of this paper is to develop an explanation as to why high- and low-income cities are associated with self-reinforcing cycles of OFDI activity that have different home-region impacts. Design/methodology/approach Conventional views assume that inward foreign direct investments (IFDIs) have a positive impact on target regions, while OFDIs are often treated as the flip side of this story, being seen as having negative effects by shifting jobs and income abroad. This paper counters this logic by developing a conceptual argument that systematically distinguishes different types of OFDIs and relates them to economic development effects in the home (investing) region. Findings Using a co-evolutionary conceptualization, this paper suggests that many high-income cities are characterized by a virtuous cycle of development where high, successful OFDI activity generates both positive income effects as well as incentives to engage in further OFDIs in the future, thus leading to additional income increases. In contrast, it is suggested that low-income cities are characterized by what we refer to as vicious cycles of development with low OFDI activity, few development impulses and a lack of incentives and capabilities for future investments. Originality/value This paper develops a counter-perspective to conventional views of OFDI activity, arguing that these investments have a positive impact on regional income levels. The authors develop a spatially sensitive explanation which acknowledges that OFDIs do not trigger a linear process but are associated with diverging inter-urban development paths and may contribute to higher levels of intra-urban inequality. From these findings, the authors derive conclusions for future research and public policy.

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Big Tech on the Block: Examining the Impact of Tech Campuses on Local Housing Markets in the San Francisco Bay Area

Cited by 8 publications

References 45 publications

Determinants of Fintech and Bigtech Lending: the Role of Financial Inclusion and Financial Development

Determinants of Fintech and Bigtech Lending: the Role of Financial Inclusion and Financial Development

Housing market price movements under tech industry expansion during COVID-19

OFDI activity and urban-regional development cycles: a co-evolutionary perspective

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