An interesting study was done by Harvard Business School using Yelp data to find that each entry of Starbucks into a Zip code was associated with a 0.5 percent increase in housing price. In my opinion, the hypothesis of whether Starbucks has the ability to drive the neighborhood economic change is as controversial as the chicken or egg question. The same observation can also apply to other similar restaurants/stores such as Wholefood Market. What really drew my attention is that the Harvard economists use Yelp data rather than the government statistics, the first of its kind that shows more ways to analyze the economic effect.
Follow original article from CNBC website