Author : Ingrid Gould Ellen
Release : 2022
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Kind : eBook
Book Rating : /5 ( reviews)
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Book Synopsis Does Federally Subsidized Rental Housing Depress Neighborhood Property Values? by : Ingrid Gould Ellen
Download or read book Does Federally Subsidized Rental Housing Depress Neighborhood Property Values? written by Ingrid Gould Ellen. This book was released on 2022. Available in PDF, EPUB and Kindle. Book excerpt: Few communities welcome federally subsidized housing, with one of the most commonly voiced fears being reductions in property values. Yet there is little empirical evidence that subsidized housing depresses neighborhood property values. This paper estimates and compares the neighborhood impacts of a broad range of federally subsidized, rental housing programs, using rich data for New York City and a difference-in-difference specification of a hedonic regression model. We find that federally subsidized developments have not typically led to reductions in property values and have in fact led to increases in many cases. Impacts are highly sensitive to scale, though patterns vary across programs.