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The effect of local housing ordinances
The housing and economic crises have exerted a strong and lingering impact on housing markets across the nation. In this paper, we assess the degree to which local anti-blight policies have infl uenced housing market outcomes following the crises. The analysis is performed for cities in Cuyahoga County, Ohio. We measure outcomes that characterize market distress and that may be influenced by local housing ordinances including foreclosure, bulk sales, flipping, vacancy, and tax delinquency. Using matching procedures on linked data containing property, loan, and transaction characteristics, we ...
The impact of recovery efforts on residential vacancies
Legislation aimed at stabilizing housing markets since the recession has focused on providing funding to acquire and remediate foreclosed and abandoned homes or providing financial assistance and incentives to purchase homes. Cuyahoga County has received over $100 million in such funds since 2008. We investigate the impact of these funds on vacancy rates. We examine neighborhoods in Cuyahoga County where National Stabilization Program dollars were spent and find that the program helped reduce vacancies in neighborhoods where properties were primarily purchased for consumption purposes.
Opportunity Occupations in the Southeast
Opportunity occupations—or opportunity employment—are jobs that do not require a bachelor’s degree and pay above a regionally adjusted median wage. This article takes a look at trends in the Southeast. For a deeper look at trends in opportunity occupations, see also "Opportunity Occupations Revisited: Exploring Employment for Sub-Baccalaureate Workers Across Metro Areas and Over Time."
Containing a firestorm: adaptive policies needed to address changing foreclosure landscape
Like a wildfire leaving devastation in its path, the foreclosure crisis continues to wreak havoc on many families and communities throughout the Fourth District, especially in the largest urban areas. Only a year ago the primary reason for foreclosures centered on subprime mortgages. Today, the primary driver is unemployment, further widening the consumption arc of this blaze.
Neighborhood Recovery and NSP1: Implementation in Select Fourth District Communities
The housing crisis in the United States has wrought changes to communities in every corner of the nation. Back in 2008, Congress's response was to create the Neighborhood Stabilization Program, or NSP, as part of the Housing and Economic Recovery Act (HERA), authorizing $3.92 billion for the program now known as NSP1 for local governments to mitigate negative impacts of foreclosures and vacancies through acquiring, rehabilitating, demolishing or redeveloping vacant and foreclosed homes. Undoubtedly, NSP1 was a small program compared to the enormous task of neighborhood recovery, and the funds ...