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The lack of affordable housing in New England: how big a problem?: why is it growing?: what are we doing about it?

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Author Info
Alicia Sasser
Bo Zhao
Darcy Rollins
Robert Tannenwald

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Abstract

Although housing costs in greater Boston and elsewhere around the region have leveled off, affordable housing is still high on the public policy agenda in every New England state. A growing chorus of employers and policymakers are warning that the region's high cost of housing is now undermining its ability to attract and retain workers and businesses. This paper presents a thorough, region-wide analysis of the housing affordability problem in New England. We construct three affordability indicators to examine differences in the cost of housing across socioeconomic, demographic, and occupational groups, for every New England state and for the region's principal metropolitan areas.

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Publisher Info
Paper provided by Federal Reserve Bank of Boston in its series New England Public Policy Center Working Paper with number 06-1.

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Date of creation: 2006
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Handle: RePEc:fip:fedbcw:06-1

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Related research
Keywords: Housing - New England ; Housing - Prices ; Housing policy - New England;

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References listed on IDEAS
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    Other versions:
  3. Rose, Louis A., 1989. "Topographical constraints and urban land supply indexes," Journal of Urban Economics, Elsevier, vol. 26(3), pages 335-347, November. [Downloadable!] (restricted)
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  5. Stephen Malpezzi, 1994. "Housing Prices, Externalities, and Regulation in U.S. Metropolitan Areas," Wisconsin-Madison CULER working papers 94-08, University of Wisconsin Center for Urban Land Economic Research.
  6. Edward L. Glaeser & Joseph Gyourko, 2003. "The impact of building restrictions on housing affordability," Economic Policy Review, Federal Reserve Bank of New York, issue Jun, pages 21-39. [Downloadable!]
  7. Karl E. Case & Robert J. Shiller, 2003. "Is There a Bubble in the Housing Market?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 34(2003-2), pages 299-362. [Downloadable!]
  8. Barakova, Irina & Bostic, Raphael W. & Calem, Paul S. & Wachter, Susan M., 2003. "Does credit quality matter for homeownership?," Journal of Housing Economics, Elsevier, vol. 12(4), pages 318-336, December. [Downloadable!] (restricted)
    Other versions:
  9. Alan Greenspan & James Kennedy, 2005. "Estimates of home mortgage originations, repayments, and debt on one-to-four-family residences," Finance and Economics Discussion Series 2005-41, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  10. Christopher J. Mayer & C. Tsuriel Somerville, . "Land Use Regulation and New Construction," Zell/Lurie Center Working Papers 331, Wharton School Samuel Zell and Robert Lurie Real Estate Center, University of Pennsylvania. [Downloadable!] (restricted)
    Other versions:
  11. C. Tsuriel Somerville & Christopher J. Mayer, 2003. "Government regulation and changes in the affordable housing stock," Economic Policy Review, Federal Reserve Bank of New York, issue Jun, pages 45-62. [Downloadable!]
  12. Brueckner, Jan K. & Follain, James R., 1989. "ARMs and the demand for housing," Regional Science and Urban Economics, Elsevier, vol. 19(2), pages 163-187, May. [Downloadable!] (restricted)
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    Other versions:
  14. Mayo, Stephen & Sheppard, Stephen, 2001. "Housing Supply and the Effects of Stochastic Development Control," Journal of Housing Economics, Elsevier, vol. 10(2), pages 109-128, June. [Downloadable!] (restricted)
  15. Robert G. Lynch, 2003. "Estimates of Income and Income Inequality in the United States and in Each of the Fifty States: 1988-1999," Journal of Regional Science, Blackwell Publishing, vol. 43(3), pages 571-588. [Downloadable!] (restricted)
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    Other versions:
  17. John M. Quigley & Steven Raphael & Eugene Smolensky, 2001. "Homeless In America, Homeless In California," The Review of Economics and Statistics, MIT Press, vol. 83(1), pages 37-51, February. [Downloadable!] (restricted)
    Other versions:
  18. Stephen Malpezzi & Richard K. Green, 1995. "What’s Happened to the Bottom of the Housing Market?," Wisconsin-Madison CULER working papers 95-16, University of Wisconsin Center for Urban Land Economic Research.
  19. John M. Quigley & Steven Raphael, 2004. "Is Housing Unaffordable? Why Isn't It More Affordable?," Journal of Economic Perspectives, American Economic Association, vol. 18(1), pages 191-214, Winter. [Downloadable!] (restricted)
    Other versions:
  20. Joseph Gyourko & Christopher Mayer & Todd Sinai, 2006. "Superstar Cities," NBER Working Papers 12355, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  21. Green, Richard K., 1999. "Land Use Regulation and the Price of Housing in a Suburban Wisconsin County," Journal of Housing Economics, Elsevier, vol. 8(2), pages 144-159, June. [Downloadable!] (restricted)
    Other versions:
  22. Mayo, Stephen K., 1981. "Theory and estimation in the economics of housing demand," Journal of Urban Economics, Elsevier, vol. 10(1), pages 95-116, July. [Downloadable!] (restricted)
  23. Rose, Louis A., 1989. "Urban land supply: Natural and contrived restrictions," Journal of Urban Economics, Elsevier, vol. 25(3), pages 325-345, May. [Downloadable!] (restricted)
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