Table 4 Results Models 4 and 5 include independent variables interacting land leverage with a dummy variable for the year in which the vacant lot was purchased is the omitted category The significant feature of these results is the impact on the overall land leverage variable λ In models 4 and 5, where interacting time variables are included, the overall impact of land leverage, becomes insignificant at the market-wide level However there are highly significant coefficients for a number of yearly periods Significant temporal variation in the influence of land leverage Most significant influence for land leverage is associated with vacant lot purchases in the later period of the sample