The Journal of political economy, 2019-06, Vol.127 (3), p.1063-1117
2019
Volltextzugriff (PDF)
Details
- Autor(en) / Beteiligte
- Titel
- Who Wants Affordable Housing in Their Backyard? An Equilibrium Analysis of Low-Income Property Development
- Ist Teil von
- The Journal of political economy, 2019-06, Vol.127 (3), p.1063-1117
- Ort / Verlag
- Chicago: The University of Chicago Press
- Erscheinungsjahr
- 2019
- Quelle
- PAIS Index
- Beschreibungen/Notizen
- We nonparametrically estimate spillovers of properties financed by the Low Income Housing Tax Credit (LIHTC) onto neighborhood residents by developing a new difference-in-differences style estimator. LIHTC development revitalizes low-income neighborhoods, increasing house prices 6.5 percent, lowering crime rates, and attracting racially and income diverse populations. LIHTC development in higher-income areas causes house price declines of 2.5 percent and attracts lower-income households. Linking these price effects to a hedonic model of preferences, LIHTC developments in low-income areas cause aggregate welfare benefits of $116 million. Affordable housing development acts like a place-based policy and can revitalize low-income communities.
- Sprache
- Englisch
- Identifikatoren
- ISSN: 0022-3808eISSN: 1537-534XDOI: 10.1086/701354Titel-ID: cdi_proquest_journals_2277026454
- Format
- –
- Schlagworte
- Affordable housing, Crime, Criminal statistics, Economic models, Economic theory, Households, Housing developments, Income taxes, Low income areas, Low income groups, Low income housing credit, Neighborhoods, Political economy, Prices, Property, Property development, Public housing, Taxation, Welfare benefits