The Evaluation of the Neighborhood Stabilization Program

Spader, Johnathan; Cortes, Alvaro; Burnett, Kimberly; Buron, Larry; DiDomenico, Michael; Jefferson, Anna; Whitlow, Steven; Buell, Jennifer Lewis; Redfearn, Christian L.; Schuetz, Jenny

doi:10.2139/ssrn.3055189

Cited by 11 publications

(5 citation statements)

References 99 publications

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“…However, there was no documented neighborhood price impacts observed in empirical analysis of NSP programs across a sample of counties and no significant difference in social conditions between NSP and control block groups in Boston (Graves et al, 2013;Spader et al, 2015).…”

Section: Neighborhood Effects Of Property Rehabilitationmentioning

confidence: 93%

“…All of these program have been analyzed by various authors and with mixed results in terms of their neighborhood-level impacts (Schuetz et al, 2015a). Additionally, the few studies to date analyzing NSP effects have also had mixed results (Fraser and Oakley, 2015;Schuetz et al, 2015b;Spader et al, 2015).…”

Section: Neighborhood Effects Of Property Rehabilitationmentioning

confidence: 99%

“…Third, the geographic scope of neighborhood-level effects has not been adequately assessed. Existing studies have utilized Census boundaries to define neighborhoods and did not test for the impact of alternative neighborhood definitions (Ergungor and Nelson, 2012;Graves et al, 2013;Spader et al, 2015).…”

Section: Neighborhood Effects Of Property Rehabilitationmentioning

confidence: 99%

See 2 more Smart Citations

Neighborhood price externalities of foreclosure rehabilitation: an examination of the Neighborhood Stabilization Program

2017

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The federally-funded, HUD-administered Neighborhood Stabilization Program (NSP) was enacted in the wake of the financial recession to mitigate the underlying adverse neighborhood effects associated with foreclosed properties. We examined the neighborhood price impacts of NSP-funded foreclosure rehabilitation undertaken by Habitat for Humanity in Dallas County, Texas using a difference-in-difference framework. Foreclosure rehabilitation projects in Dallas County produced an average 15% increase in neighborhood home prices that sold up to 30 months after the rehabilitated property sale and within 0.1 miles of the rehabilitated property. Foreclosure rehabilitation that involved significant exterior repairs was associated with the largest estimated effect sizes. Results suggest that NSP-funding in Dallas County effectively targeted homes that had the potential to have the most severe neighborhood impacts, and that rehabilitation was an effective means of reversing neighborhood price externalities associated with blighted foreclosed properties.JEL Classification: R31, G21, G28

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Section: Neighborhood Effects Of Property Rehabilitationmentioning

confidence: 93%

Section: Neighborhood Effects Of Property Rehabilitationmentioning

confidence: 99%

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Neighborhood price externalities of foreclosure rehabilitation: an examination of the Neighborhood Stabilization Program

2017

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“…However, in light of evidence from a program evaluation of the most ambitious effort, the federal government’s Neighborhood Stabilization Program II (NSP II), which sought to improve upon its predecessor NSP I, we decided not to. The analysis of 6,300 properties in 19 counties yielded no consistent evidence of positive effects of NSP II expenditures on home values or sale prices (Spader et al 2015).…”

Section: Methodsmentioning

confidence: 99%

Exploring the Relationship Between Housing Downturns and Partisan Elections: Neighborhood-Level Evidence from Maricopa County, Arizona

Pfeiffer

Wegmann

Schafran

2019

Urban Affairs Review

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An understudied outcome of foreclosure crises is how their aftershocks affect partisan elections. Two hypotheses are that partisan shifts may occur in neighborhoods with concentrated foreclosures because of (1) declines in turnout among liberal leaning voters or (2) swells of anti-incumbency among all voters. This research explores these hypotheses in Maricopa County, Arizona, by using econometric modeling to uncover associations among neighborhood foreclosures, voter turnout, and changes in the Republican vote share between the 2006 and the 2010 Arizona gubernatorial and U.S. Senate elections. Our results show evidence of (1) anti-incumbent voting behavior and more liberal shifts among neighborhoods harder hit by foreclosures and (2) conservative shifts in neighborhoods experiencing African-American and Latinx population growth. These findings are suggestive of a link between neighborhood housing market distress and neighborhood partisan shifts, which in aggregate may shape state and national policymaking and future neighborhood conditions.

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“…A further aid to identifying the effect of NSP activity on crime is that, although grantees selected census tracts to receive NSP funds based on pre-existing measures of distress, they consistently indicated in interviews that there were quite constrained in their ability to target specific properties for investment. This was particularly true for properties acquired for rehabilitation: many banks with large REO inventories chose to release only a few properties at a time, to avoid flooding the market, and NSP grantees in some areas had to compete with private investors also purchasing foreclosed properties(Fraser and Oakley 2015;Newburger 2010;Reid 2011;Spader et al 2015). The difficulties experienced by grantees in acquiring strategically important properties introduces a quasi-random nature into the location of NSP properties which aids in identification (although it may have hindered the effectiveness of the program overall).…”

mentioning

confidence: 99%

Fewer Vacants, Fewer Crimes? Impacts of Neighborhood Revitalization Policies on Crime

Spader¹,

Schuetz

Cortes

2015

FEDS

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The relationship between neighborhood physical environment and social disorder, particularly crime, is of critical interest to urban economists and sociologists, as well as local governments. Over the past 50 years, various policy interventions to improve physical conditions in distressed neighborhoods have also been heralded for their potential to reduce crime. Urban renewal programs in the mid-20 th century and public housing redevelopment in the 1990s both subscribed to the idea that signs of physical disorder invite social disorder. More recently, the federal Neighborhood Stabilization Program (NSP) provided funding for local policymakers to rehabilitate or demolish foreclosed and vacant properties, in order to mitigate negative spillovers-including crime-on surrounding neighborhoods. In this paper, we investigate the impact of NSP investments on localized crime patterns in Cleveland, Chicago and Denver. Results suggest that demolition activity in Cleveland decreased burglary and theft, but do not find measurable impacts of property rehabilitation investments-although the precision of these estimates are limited by the number of rehabilitation activities.

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The Evaluation of the Neighborhood Stabilization Program

Cited by 11 publications

References 99 publications

Neighborhood price externalities of foreclosure rehabilitation: an examination of the Neighborhood Stabilization Program

Neighborhood price externalities of foreclosure rehabilitation: an examination of the Neighborhood Stabilization Program

Exploring the Relationship Between Housing Downturns and Partisan Elections: Neighborhood-Level Evidence from Maricopa County, Arizona

Fewer Vacants, Fewer Crimes? Impacts of Neighborhood Revitalization Policies on Crime

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