Does Condominium Development Lead to Gentrification

Leah Boustan, Robert Margo, Matthew Miller, James Reeves and Justin Steil
Additional contact information
Leah Boustan: Princeton University
Matthew Miller: Audible
James Reeves: University of Michigan
Justin Steil: MIT

Working Papers from Princeton University. Economics Department.

Abstract: The condominium structure, which facilitates ownership of units in multi-family buildings, was only introduced to the US during the 1960s. We ask whether the subsequent development of condominiums encouraged high-income households to move to central cities. Although we document a strong positive correlation between condominium density and resident income, this association is entirely driven by endogenous development of condos in areas otherwise attractive to high-income households. When we instrument for condo density using the passage of municipal regulations limiting condo conversions, we find little association between condo development and resident income, education or race.

Keywords: Gentrification; Housing (search for similar items in EconPapers)
JEL-codes: N92 R28 R31 (search for similar items in EconPapers)
Date: 2019-08
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Citations: View citations in EconPapers (5)

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https://www.nber.org/system/files/working_papers/w26170/w26170.pdf

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Working Paper: Does Condominium Development Lead to Gentrification? (2019)
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Persistent link: https://EconPapers.repec.org/RePEc:pri:econom:2019-11

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