Using data compiled from concentrated residential urban revitalization programs implemented in Richmond, VA, between 1999 and 2004, we study residential externalities. Specifically, we provide evidence that in neighborhoods targeted by [...]
The median price of a single-family home in Houston dropped 8.5 percent compared to January 2008, according to the Houston Association of Realtors. But Houstonians are still much better off [...]
Social capital is often place-specific while schooling is portable, so the prospect of migration may reduce the returns to social capital and increase the returns to schooling. If social capital [...]
When planners make housing unaffordable, their first response is to impose “affordability mandates” on builders. Typically, such regulations require builders to sell 15 to 20 percent of their homes below [...]
Empirical research on cities starts with a spatial equilibrium condition: workers and firms are assumed to be indifferent across space. This condition implies that research on cities is different from [...]
Stereotypical images of suburbs as homogeneous, residential neighborhoods comprised of single-family houses on individual lots have become synonymous with sprawl. Discourses on smart growth, new urbanism, and sustainability promote increasing [...]
The standard hedonic model of durable assets is a special case of a more general model that contains two additive terms: (1) use value of the existing hedonic vector and [...]
Many economists have argued that aspects of the credit market, including low interest rates, can explain the boom. The evidence summarized in this Policy Brief casts doubt on the view [...]
I process satellite-generated data on terrain elevation and presence of water bodies to precisely estimate the amount of developable land in U.S. metropolitan areas. The data show that residential development [...]
The “evolution” in the title pulls together three themes in this essay. One is an assessment of where the practice of zoning has gone since I published my first book, [...]