Builder
Apparently, the caffeine addled are willing to pay more for a house. That’s the finding of a Harvard study of what happens to home prices when a Starbucks moves into the neighborhood. CNBC reports:
Each new Starbucks boosts the value of housing prices in a neighborhood. And not by an insignificant amount.
This data point is revealed in a broader study on gentrification by the Harvard Business School that relied on information from Yelp, the online restaurant review platform, and the United States Census.
A new Starbucks introduced into a ZIP code is associated with a 0.5 percent increase in housing prices within a year, the paper found.
