Search Results
Journal Article
Beyond shelter: investing in quality affordable housing
As the demand for affordable housing grows during these troubled economic times, investment and policy aimed at shoring up supply becomes increasingly important.
Speech
The national and regional economic outlook
Remarks at Fordham University's Gabelli School of Business, Bronx, New York.
Journal Article
Notes from the field: interview with city of Fort Worth's Homelessness Program Director
In March the Federal Reserve Bank of Dallas interviewed Otis Thornton, Homelessness Program Director at the City of Fort Worth, to discuss the fundamentals of homelessness and efforts to combat it.
Discussion Paper
Developing Inclusive Communities: Challenges and Opportunities for Mixed-Income Housing
Over the past decade, housing costs have risen faster than incomes. The need for affordable rental housing has well outpaced the number of available units as well as funding allocations at the federal level. Local regulation and land use policies that increase the cost of subsidized, mixed-income housing construction and preservation have contributed to the affordability problem. {{p}} To meet the affordable housing needs in U.S. communities, innovation, creativity, and "out of the box" thinking may be required, particularly as it relates to reducing the rapidly increasing costs of ...
Working Paper
Assessing the evidence on neighborhood effects from moving to opportunity
This paper presents a new perspective on results from the Moving to Opportunity (MTO) housing mobility program. Building on recent developments in the program evaluation literature, this paper defines several treatment effect parameters and then estimates and interprets these parameters using data from MTO. The evaluation framework is used to make a clear distinction between the interpretation of Intent to Treat (ITT) and Treatment on the Treated (TOT) parameters as program effects and Local Average Treatment Effect (LATE) parameters as neighborhood effects. This distinction helps to clarify ...
Working Paper
Are Central Cities Poor and Non-White?
For much of the 20th century, America's central cities were viewed as synonymous with economic and social hardship, often used as proxy for low-income communities of color. Since the 1990s, however, many metropolitan areas have seen a resurgence of interest in central city neighborhoods. Theoretical models of income sorting lead to ambiguous predictions about where households of different income levels will live within metropolitan areas. In this paper, we explore intra-city spatial patterns of income and race for U.S. metropolitan areas, focusing particularly on the locations of low-income ...
Journal Article
Suburban housing collaborative: a case for interjurisdictional collaboration
More than 280 municipalities surround the city of Chicago, with more than 120 in Cook County alone. The metropolitan region?s seven counties also include 123 townships, 307 school districts, 136 fire districts, 173 park districts, and 108 library districts. (GO TO 2040 2010) In recent years, some suburban communities have recorded foreclosure rates exceeding those of the most distressed inner city neighborhoods. In other towns, home values have fallen to 1990s levels. In still others, less than 10 percent of the local workforce can afford to live near where they work. Layered over all of ...
Discussion Paper
Declines in Low-Cost Rented Housing Units in Eight Large Southeastern Cities
From the last quarter of 2012 to the last quarter of 2015, median rents rose 23.4 percent in the South, according to the Census Bureau. Accordingly, an increasing number of households in the South are cost-burdened, which is defined as a household spending more than 30 percent of its income on housing. A growing number of households spend over 50 percent of their income on rent, making them severely cost-burdened. The percentage of such severely cost-burdened households with incomes below $35,000 reached 80 percent in 2014 in eight central cities in the Southeast (Atlanta, Birmingham, ...
Journal Article
Building blocks for private investment in New York City's underserved communities
This paper was presented at the conference "Policies to Promote Affordable Housing," cosponsored by the Federal Reserve Bank of New York and New York University's Furman Center for Real Estate and Urban Policy, February 7, 2002. It was part of Session 5: Remarks on the Future of Housing Policy.
Working Paper
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 ...