JUE Insight: Condominium development does not lead to gentrification

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

Journal of Urban Economics, 2023, vol. 133, issue C

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 socioeconomic 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.

Keywords: Condominium; Gentrification; Municipal regulations; City/suburb borders (search for similar items in EconPapers)
JEL-codes: K11 N92 R22 R31 R38 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0094119022001000
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:juecon:v:133:y:2023:i:c:s0094119022001000

DOI: 10.1016/j.jue.2022.103524

Access Statistics for this article

Journal of Urban Economics is currently edited by S.S. Rosenthal and W.C. Strange

More articles in Journal of Urban Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().