Publications Tagged ‘homeownership’
Do Foreclosures Cause Crime?
Foreclosures affect not only individual homeowners, but also the crime levels of the surrounding neighborhood. This study found that neighborhoods with concentrated foreclosures see an uptick in crime for each foreclosure notice issued. These effects are pronounced in hardest hit neighborhoods; that is, those with concentrated foreclosures. The report suggests that policing and community stabilizing efforts should prioritize areas with concentrated foreclosures, especially those where crime rates are already moderate to high.
Ingrid Gould Ellen, Johanna Ruth Lacoe. February 2013.
Navigating Uncertain Waters: Mortgage Lending in the Wake of the Great Recession
This report summarizes our February 4, 2011 Roundtable of the same name, and provides an in-depth exploration of credit availability and lending patterns during the recession.
The Furman Center for Real Estate and Urban Policy. August 2011.
Can Homeownership Transform Communities? Evidence on the Impact of Subsidized, Owner-Occupied Housing Investments on the Quality of Local Schools
While recent evidence demonstrates that subsidized investments in owneroccupied housing can lead to increases in property values (Schwartz et al. 2006), the impact of such housing on other community amenities is largely unexamined. Yet, the response of local services to public investments is crucial for policy-makers and community development practitioners who view increasing subsidized homeownership as a mechanism to improve urban neighborhoods. Drawing on evidence from New York City, we examine the impact of subsidized housing on the quality of local schools by studying exogenous variation in city investments in owner and rental units. Specifically, we explore whether – and in what ways – publicly financed investments in owner- or renter-occupied housing made in the late 1980s and 1990s by the City of New York affected the characteristics and performance of local public schools. Our results suggest that the completion of subsidized, owner-occupied housing is associated with a decrease in schools’ percentage of free lunch eligible students, an increase in schools’ percentage of white students, and controlling for these compositional changes, a positive change in pass rates on standardized reading and math exams.
Ingrid Gould Ellen, Colin Chellman, Brian J. McCabe, Amy Ellen Schwartz, & Leanna Stiefel. October 2009.
Key Findings on the Affordability of Rental Housing from New York City’s HVS 2008
Every three years, the U.S. Census Bureau releases the New York City Housing and Vacancy Survey (HVS), which assesses changes in various aspects of New York City’s housing and neighborhoods. The primary goal of the survey is to estimate the rental vacancy rate in the City, but the survey also provides valuable insight into other trends in the housing stock. However, the data are released in a format that is hard to understand without statistical software. In order to make the findings available to a wider audience, we have analyzed the data about New York City’s neighborhoods and compiled this summary of noteworthy trends.
Furman Center for Real Estate and Urban Policy. June 2009.
Homeownership and Financial Distress: The Interplay of Tax, Real Estate and Bankruptcy Laws A Report to the Ford Foundation
In recent years, as more low income, racial and ethnic minorities have become
homeowners, the share of mortgage loans originated by so-called “subprime lenders” has
mushroomed. These lenders typically charge higher interest rates and fees than “prime” lenders
in light of the higher risk they sometimes bear. A subset of “subprime lenders” has also preyed
upon households by charging interest rates and fees that bear little relationship to risk and/or by
using misinformation or fraud to get borrowers to take on additional debt. Using our sample of
4 bankrupt borrowers, we seek to learn more about both the characteristics and histories of
households who may have obtained loans from these “predatory” lenders
Schill, Michael H., R. Bachieva, Susan M. Wachter, and E. Warren. Bankruptcy Data Project at Harvard . May 2002.