Nonprofit housing investment and local area home values

Kelly Edmiston ()

Economic Review, 2012, vol. 97, issue Q I, 67-96

Abstract: 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.

Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.kansascityfed.org/documents/1630/2012- ... %20Home%20Values.pdf (application/pdf)

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:fip:fedker:y:2012:i:qi:p:67-96:n:v.97no.1

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Economic Review from Federal Reserve Bank of Kansas City Contact information at EDIRC.
Bibliographic data for series maintained by Zach Kastens ().