UCLA

Property values offer a lens through which to explain urban phenomena. It is therefore important to understand the theories and practices of property valuation as planners. This article brings together and advances planning and real estate fields by probing the meaning of value underlying a common valuation technique, the discounted cash flow analysis. When using this technique, income-generating properties are largely valued for their exchange value, while much of their use values are overlooked. Learning from the field of social entrepreneurship, I propose a framework for capturing the use values of a property, more specifically, its impact on existing socioeconomic inequalities.