Nonprofit housing investment and local area home values
In the wake of the recent mortgage crisis, interest in neighborhood stabilization and redevelopment has shown renewed vigor. Decaying neighborhoods have been part of the urban landscape for decades, but their problems recently have been exacerbated by foreclosed and vacated properties, especially in low- and moderate-income areas. ; Edmiston analyzes the impact of housing investments in low- and moderate-income neighborhoods on neighborhood quality by estimating the effect of that investment on the value of nearby houses. Property values are a good measure of overall neighborhood impacts because they show the willingness of homeowners (or investors) to pay for neighborhood attributes. ; The analysis provides evidence that housing investments in low- and moderate-income neighborhoods generally increase the values of nearby homes, which in turn suggests that the investments engender quality improvements in the neighborhood.
Volume (Year): (2012)
Issue (Month): Q I ()
|Contact details of provider:|| Postal: One Memorial Drive, Kansas City, MO 64198|
Phone: (816) 881-2254
Web page: http://www.kansascityfed.org
More information through EDIRC
|Order Information:|| Email: |
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- John Ries & Tsur Somerville, 2010. "School Quality and Residential Property Values: Evidence from Vancouver Rezoning," The Review of Economics and Statistics, MIT Press, vol. 92(4), pages 928-944, November.
- Power, Anne, 2008. "Does demolition or refurbishment of old and inefficient homes help to increase our environmental, social and economic viability?," Energy Policy, Elsevier, vol. 36(12), pages 4487-4501, December.
- Baum-Snow, Nathaniel & Marion, Justin, 2009. "The effects of low income housing tax credit developments on neighborhoods," Journal of Public Economics, Elsevier, vol. 93(5-6), pages 654-666, June.
- Esteban Rossi-Hansberg & Pierre-Daniel Sarte & Raymond Owens III, 2008.
NBER Working Papers
14369, National Bureau of Economic Research, Inc.
- James Harvey & Kenneth Spong, 2007. "Home financing in Kansas City and its contribution to low and moderate income neighborhood development," Financial Industry Perspectives, Federal Reserve Bank of Kansas City, issue Feb.
- Joshua D. Angrist & Alan B. Krueger, 2001.
"Instrumental Variables and the Search for Identification: From Supply and Demand to Natural Experiments,"
Journal of Economic Perspectives,
American Economic Association, vol. 15(4), pages 69-85, Fall.
- Joshua Angrist & Alan Krueger, 2001. "Instrumental Variables and the Search for Identification: From Supply and Demand to Natural Experiments," Working Papers 834, Princeton University, Department of Economics, Industrial Relations Section..
- Joshua Angrist & Alan B. Krueger, 2001. "Instrumental Variables and the Search for Identification: From Supply and Demand to Natural Experiments," NBER Working Papers 8456, National Bureau of Economic Research, Inc.
- Kelly D. Edmiston, 2011. "Low-income housing tax credit developments and neighborhood property conditions," Research Working Paper RWP 11-10, Federal Reserve Bank of Kansas City.
- Shanti Gamper-Rabindran & Ralph Mastromonaco & Christopher Timmins, 2011. "Valuing the Benefits of Superfund Site Remediation: Three Approaches to Measuring Localized Externalities," NBER Working Papers 16655, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:fip:fedker:y:2012:i:qi:p:67-96:n:v.97no.1. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (LDayrit)
If references are entirely missing, you can add them using this form.