Publications
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Profile of Rent-Stabilized Units and Tenants in New York City
In 2011, rent stabilized units comprised nearly one million units of housing in New York City--roughly 45 percent the city's rental housing stock. This report details the socioeconomic and demographic characteristics of the tenants who live in NYC's stabilized housing. It is an update to a 2012 brief, Rent Stabilization in New York City. It has been slightly expanded and re-released to inform the ongoing discussions about rent stabilization in New York City in advance of the June 23, 2014 Rent Guidelines Board vote to set the allowable increase for 2015 lease renewals.
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Public Characteristics and Expenditures on Public Services: An Empirical Analysis
This article investigates the provision of police and education services using a new method of indexing quantities of local public services that isolates movements in shadow prices and quantities in expenditure data. Demand equations for two public characteristics (the crime safety rate and high school reading test pass rates) and two categories of expenditures (education and police services) are simultaneously estimated for New Jersey municipalities. The relationship between public services and public characteristics is estimated, and both the “own” and the “cross “-effects of public services are found to be empirically significant. Increases in expenditures between 1982 and 1983 are found to largely reflect increases in quantities of education services and in prices of police services.
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Public Housing and Public Schools: How Do Students Living in NYC Public Housing Fare in School?
This report examines the school performance of children living in NYCHA housing and finds that children living in NYCHA housing perform less well on standardized math and reading tests than other students, even after controlling for the characteristics of the individual students and the schools they attend.
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Public Schools, Public Housing: The Education of Children Living in Public Housing
In the United States, public housing developments are predominantly located in neighborhoods with low median incomes, high rates of poverty and disproportionate concentrations of minorities. While research consistently shows that public housing developments are located in economically and socially disadvantaged neighborhoods, we know little about the characteristics of the schools serving students living in public housing. In this paper, we examine the characteristics of elementary and middle schools attended by students living in public housing developments in New York City. Using the proportion of public housing students attending each elementary and middle school as our weight, we calculate the weighted average of school characteristics to describe the typical school attended by students living in public housing. We then compare these characteristics to those of the typical school attended by other students throughout the city in an effort to assess whether students living in public housing attend systematically different schools than other students. We find no large differences between the resources of the schools attended by students living in public housing and the schools attended by their peers living elsewhere in the city; however we find significant differences in student characteristics and performance on standardized exams. These school differences, however, fail to fully explain the performance disparities amongst students. Our results point to a need for more nuanced analyses of the policies and practices in schools, as well as the outside-of-school factors that shape educational success, to identify and address the needs of students in public housing.
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Quarterly Housing Update 2011: 3rd Quarter
In an analysis of third quarter housing indicators, The Furman Center finds that home sales volume remained low in the third quarter of 2011, with the number of properties sold citywide four percent lower than the number sold in the third quarter of 2010. Property values are also lagging in most of the city. Manhattan is the only borough where properties have appreciated in price over the last year. The Quarterly Housing Update is unique among New York City housing reports because it incorporates sales data, residential development indicators, and foreclosures. It also presents a repeat sales index for each borough to capture price appreciation while controlling for housing quality.
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Quarterly Housing Update 2011: 4th Quarter
In an analysis of fourth quarter housing indicators, the Furman Center finds that home sales volume continued to decline in the fourth quarter of 2011, with the number of transactions citywide down 15 percent from the previous quarter and 11 percent from the fourth quarter of 2010. Foreclosure starts were down in most of the city, with 33 percent fewer foreclosure notices issued in the fourth quarter of 2011 compared to the same quarter in 2010. Manhattan was the only borough where the number of foreclosure starts increased, although the number of notices issued in Manhattan still remained well below the numbers issued in any of the other boroughs.
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Quarterly Housing Update 2012: 1st Quarter
In an analysis of first quarter housing indicators, the Furman Center finds that home sales volume rose in the first quarter of 2012, with the number of transactions citywide up almost five percent. Housing prices throughout the city are up 3.5 percent compared to the same quarter last year. The report also finds that the number of foreclosure notices issued in Q1 2012 has fallen citywide since its peak in the third quarter of 2009. However, foreclosure notices in Queens and Staten Island increased by more than 20 percent from the fourth quarter of 2011
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Quarterly Housing Update 2012: 2nd Quarter
In an analysis of second quarter housing indicators, the Furman Center finds that home sales volume increased in the third quarter of 2012, with the number of transactions citywide up by 16.4 percent. Housing prices throughout the city are up 2.7 percent compared to the same quarter last year. There were 243 new units authorized by building permits in the second quarter of 2012, 386 fewer than the previous quarter and 1,159 fewer than the same quarter of 2011. The report also finds that the number of foreclosure notices issued in Q2 2012 has increased 34.9 percent citywide since the first quarter of 2012, with the highest increase seen in Queens with 41 percent.
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Quarterly Housing Update 2012: 3rd Quarter
In an analysis of third quarter housing indicators, the Furman Center finds that home sales volume remained relatively stagnant in the third quarter of 2012, with the number of transactions citywide down by 0.1 percent. Housing prices throughout the city are up 4.4 percent compared to the same quarter last year. The report also finds that the number of foreclosure notices issued in Q3 2012 has increased 14.5 percent citywide since the third quarter of 2011, with a 40.9 percent increase in Queens.
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Quarterly Housing Update 2012: 4th Quarter
Home prices in New York rose in the last quarter of 2012, according to the Furman Center’s New York City 2012 Quarterly Housing Update: 4th Quarter. Increase in prices was seen in all boroughs except Manhattan, with the Bronx showing the largest increase over the previous quarter, with prices up 8.1 percent. The Bronx also led the city with the most building permits authorized and the greatest increase in sales volume.
