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The purpose of this paper is to evaluate the parcel-level impacts of the zoning change.

Using hedonic regression and propensity score matching econometric techniques, this paper analyses single-family housing prices within Fulton County Georgia. This paper combines data on the parcel-level zoning changes with nearby housing sales transactions to study the potential externality effects because of rezoning induced by private parties.

The paper finds evidence of heterogeneous rezoning effects, depending upon the type of rezoning conducted. At a distance within 0.75 miles, housing prices appreciate by 8.31% when nearby privately initiated rezoning maintains the residential character of a neighbourhood. However, housing prices decline by 21.26% when residential housing zones are converted to non-residential housing zones. The negative influences of rezoning residential use to non-residential uses decline as distance increases.

The analysis provides quantitative information on the impact of rezoning on residential property prices. Planning officials and developers can use these results to assuage homeowner fears of potential negative housing price effects associated with rezoning.

The purpose of this paper is to evaluate whether low financial literacy is associated with the use of risky mortgages and delinquency.

A probit analysis is used to analyze the results of a survey of US homeowners.

It was found that borrowers with low financial literacy are more likely to have a risky mortgage and be delinquent in their mortgage payments.

The results indicate that many risky loan borrowers may be unable to evaluate the risks inherent in the mortgage, which contributes to high delinquency rates. These results suggest the need for education and caution in the use of risky mortgages.