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Diane Publishing Books
Nonprofit Housing Investment and Local Area Home Values: A Reprint from the ńˇýEconomic ReviewńˇŁ
Kelly D. Edmiston (au)
Decaying neighborhoods have been part of the urban landscape for decades, but their problems recently have been exacerbated by foreclosed and vacated properties, esp. in low- and moderate-income neighborhoods (LMIN). This study analyzes the impact of housing invest. in LMIN on neighborhood quality by estimating the effect of that invest. on the value of nearby houses. Property values are a good measure of overall neighborhood impacts because they show the willingness of homeowners (or investors) to pay for neighborhood attributes. The analysis provides evidence that housing invest. in LMIN generally increase the values of nearby homes, which in turn engender quality improvements in the neighborhood. Ill. A print on demand report.
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