The Impact of Recognized Features of Uncomfortable Houses on Auction Prices: A Chinese Cultural Perspective.

This study examines the influence of negative Feng-shui features on the prices of foreclosures (the houses subject to court-enforced auction) in Taiwan using the Google Street View function. The research objectives are threefold. Firstly, the study aims to compare whether foreclosed houses with negative Feng-shui features have longer auction times and higher discount rates compared to those without such features. Secondly, it seeks to explore the impact of negative Feng-shui features on investors in the foreclosed house market. Lastly, the study aims to assess the varying degrees of influence of different negative Feng-shui features on foreclosure prices. The findings of this study indicate that in the metropolitan area of Taiwan, foreclosures with more negative Feng-shui features tend to have longer auction times and higher discount rates compared to those without such features. Negative Feng-shui features may cause delays in investor bidding. Among the 12 negative Feng-shui features analyzed, only the presence of "facing-temple" is found to have a negative effect on foreclosure prices. This suggests that foreclosures with the "facing-temple" feature tend to have lower prices and potentially higher discount rates. The other 11 negative Feng-shui features do not have significant effects on auction pricing. This study discovered that the "facing-temple" was a significant negative Feng-shui feature in foreclosures in Taiwan against the traditional perspective. And it provides investors' concerns toward foreclosures and their tendency in prices of foreclosures in Taiwan. Plain Language Summary: The Study of Features of Uncomfortable Houses from Culture Perspective This study investigates how negative Feng-shui characteristics impact the prices of foreclosed properties in Taiwan. Using Google Street View, we analyze the influence of these features on auction times, discount rates, and investor behavior. We find that foreclosures with more negative Feng-shui characteristics tend to have longer auction times and higher discount rates. Specifically, the presence of a "facing-temple" feature leads to lower prices and potentially higher discounts. However, the other 11 negative Feng-shui characteristics do not significantly affect auction pricing. This study challenges the traditional perspective by highlighting the significance of the "facing-temple" feature in foreclosures and provides insights into investor concerns and price trends in the Taiwan foreclosure market. [ABSTRACT FROM AUTHOR]