Does Condominium Development Lead to Gentrification?

Leah Boustan, Robert Margo, Matthew M. Miller, James M. Reeves and Justin P. Steil

No 26170, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Many politicians and voters believe that condominium development hastens gentrification. Indeed, there is a strong positive correlation between the presence of condos in a neighborhood and resident socio-economic status. We leverage the introduction of municipal regulations to study the causal effect of condo conversions on neighborhood attributes. Cities that restricted condo conversions experience a persistent decline in the condo share of the housing stock, relative to their neighboring suburbs and compared to metropolitan areas without such restrictions, even at city/suburb borders. Yet, areas with a higher condo share due to local regulations do not have residents with higher income or education levels.

JEL-codes: N92 R28 R31 (search for similar items in EconPapers)
Date: 2019-08
New Economics Papers: this item is included in nep-his and nep-ure
Note: DAE
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Working Paper: Does Condominium Development Lead to Gentrification (2019)
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