Table 4

Panel Results: Simplified and Qualitative View Models for Massachusetts

Sample^a	MACG1 Matched	MACG2 Matched	MACG3 Matched	MACG1 Matched	MACG2 Matched	MACG3 Matched
Model	Simplified	Simplified	Simplified	Qualitative View	Qualitative View	Qualitative View
Outcome	Ln(price)
Flood zone (SFHA)	−0.0720^**	0.0455^*	−0.0115	−0.0733^**	0.0428^*	−0.0143
	(0.0194)	(0.0178)	(0.0123)	(0.0201)	(0.0183)	(0.0120)
Ln (ocean view area)	−0.00975^*	0.0103^**	−0.00440^**
	(0.00376)	(0.00361)	(0.00132)
Ln (ocean view angle)	0.0503^*	0.0294	0.0596^***
	(0.0190)	(0.0187)	(0.00923)
Ocean viewshed slice no.	0.00142	0.00203^***	0.000564
	(0.00120)	(0.000579)	(0.000730)
Ln (ocean view distance)	−0.0504^**	−0.0354^**	−0.0290^***
	(0.0153)	(0.0120)	(0.00707)
Ocean view category 1				0.288^**	0.444^***	0.373^***
				(0.0864)	(0.0667)	(0.0468)
Ocean view category 2				0.179^*	0.398^***	0.260^***
				(0.0652)	(0.0466)	(0.0321)
Ocean view category 3				0.0715^**	0.428^***	0.185^***
				(0.0219)	(0.0830)	(0.0323)
Ocean view category 4				0.0348^*	0.197^***	0.0505^***
				(0.0165)	(0.0273)	(0.0127)
Ln (distance to coastline)	−0.170^***	−0.221^***	−0.106^***	−0.186^***	−0.227^***	−0.115^***
	(0.0300)	(0.0171)	(0.0116)	(0.0250)	(0.0175)	(0.0118)
Month fixed effects	Yes	Yes	Yes	Yes	Yes	Yes
Year-quarter fixed effects	Yes	Yes	Yes	Yes	Yes	Yes
Census tract by year	Yes	Yes	Yes	Yes	Yes	Yes
R-squared	0.798	0.762	0.777	0.796	0.759	0.775
Observations in SFHA	1,169	5,020	12,730	1,169	5,020	12,730
Observations outside SFHA	852	3,700	8,815	852	3,700	8,815
Observations	2,021	8,720	21,545	2,021	8,720	21,545

Note: Standard errors are in parentheses. Robust standard errors clustered by census tract are reported. MACG = county groups; SFHA = special flood hazard area.

↵a The matching process for “matched” required exact match on transaction year. In addition, this one-on-one-with-replacement matching also requires exact matching on coastal proximity bands, neighborhood category, and mortgage status.
+ p < 0.1;
↵* p < 0.05;
↵** p < 0.01;
↵*** p < 0.001.