Building Homes, Reviving Neighborhoods: Spillovers from Subsidized Construction of Owner-Occupied Housing in New York City

By Ingrid Gould Ellen, Michael H. Schill, A. Schwartz, Scott J. Susin. Journal of Housing Research, 2001

134 citations recorded by the source corpus.

This article examines the impact of two New York City homeownership programs on surrounding property values. Both programs, the Nehemiah Program and the Partnership New Homes program, subsidize the construction of affordable owner-occupied homes in distressed neighborhoods. We use a geocoded data set that includes every property transaction in the City from 1980 to 1999. Our analysis relies on a difference-in-difference approach. Specifically, we compare the prices of properties in small rings surrounding the Partnership and Nehemiah sites with prices of comparable properties that are in the same ZIP code but outside the ring. We then examine whether the magnitude of this difference changes after the completion of a homeownership development. Our results show that during the past two decades prices of properties in the rings surrounding the homeownership projects have risen relative to their ZIP codes. Results suggest that part of that rise is attributable to the affordable homeownership programs.

Subfields: Economics and Econometrics, Finance, Sociology and Political Science

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Citations in the corpus

Targeting Investments for Neighborhood Revitalization (2006, methodology): “The first is the difference-in-differences model, which can be used to compare differences in the levels of an outcome indicator between target and control neighborhoods before and after the intervention ( Ellen, Schill, Susin, & Schwartz, 2001; Ellen & Voicu, 2006; Schill, Ellen, Schwartz, & Voicu”
The External Effects of Place-Based Subsidized Housing (2006, background): “The second column of the table reveals some systematic differences between the transacting properties located close to city-assisted housing sites and those that are not. merged RPAD data from 1990 and 1999, we found that characteristics changed very rarely (Ellen et al 2001).”
How Does a New Sports Stadium Affect Housing Values? The Case of FedEx Field (2005, methodology): “…dataset that covers all three periods.22 Model 1 in Table 6 compares three one-mile radius rings; 22 Following Galster, Titian, and Smith (1999), Ellen et al. (2001) and Galster, Tatian, and Pettit (2004), these models assume that the implicit prices of housing attributes unrelated to a…”
The Effect of Community Gardens on Neighboring Property Values (2008, unknown): “Ellen et al. (2002) employ a similar methodology to evaluate the impact of investments in selected homeownership developments.”
Neighborhood Effects of Concentrated Mortgage Foreclosures (2008, methodology): “To identify the effect of foreclosure starts on neighboring property values, we use a form of hedonic regression analysis, controlling for property and neighborhood characteristics, similar to the methodology used in Ellen et al. (2002) and Voicu and Been (2008). The general form of the regression i”