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No evidence of a post-Olympics boom or bust for host city real estate prices: UBC study
Description
Cities that win Olympic bids experience neither boom nor bust in their real estate prices, but gain construction jobs as they prepare for the Games, according to researchers at the Sauder School of Business at the University of British Columbia.
The UBC study is the first to use real estate variables to test the Games’ economic impact on host cities. Sauder School of Business researchers analyzed house prices and construction employment in the years leading up to and after the Olympics in Australian, Canadian and U.S. cities.Researchers say that, while their findings suggest no economic gains,
" The societal impact of valuing the Olympic ideals goes far beyond economics and politics. Hosting the Games ultimately reflects pride in our athletes, city and country.”
Sauder School of Business Press Release, Jan 25, 2010.
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