This study examines the effect of the new rapid transit line from downtown Chicago to Midway Airport on single-family house prices before and after the opening of the line. The results show that the housing market anticipated the opening of the line. House prices were being affected by proximity...

Time periods are typically highly aggregated for repeat sales estimators because of the small number of observations available in some periods. We use a flexible Fourier expansion to account for time, which we treat as a continuous variable. Our estimator saves degrees of freedom and enables us...

A median-based quantile estimator suffers less bias from positive outliers, such as unobserved renovations, than a standard mean-based estimator. Quantile repeat-sales estimates for single-family homes in the city of Chicago show nominal price appreciation of 68.9% between 1993 and 2002,...