Few communities welcome 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.
Published in April 2006, this paper tells the story of housing policy in New York City over the past 30 years. The report describes the city’s unprecedented efforts to rebuild its housing stock during the late 1980s and 1990s and analyzes the specific features of the New York City’s 10-year plan that made these efforts so successful. In addition, the report describes New York City’s current housing environment and policy challenges.
Provides a comprehensive, up-to-date description and analysis of the housing and neighborhood problems facing residents of the nation’s largest city, and the policies that have been developed to solve these problems.