2019
DOI: 10.1086/701354
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Who Wants Affordable Housing in Their Backyard? An Equilibrium Analysis of Low-Income Property Development

Abstract: the Federal Reserve Board, and the Stanford GSB economics and finance lunches. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

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Cited by 182 publications
(95 citation statements)
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References 29 publications
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“…A recent Stanford University study examined the impact of multifamily housing developments funded by the Low Income Housing Tax Credit on surrounding neighborhoods. Their results indicated that building more affordable housing units in low income areas would lead to a reduction in violent and property crime, an increase in the income of home buyers, and an increase in income diverse populations (Diamond & McQuade, 2019). These increases could potentially lead to more investment and community assets within these materially deprived areas.…”
Section: Future Directionsmentioning
confidence: 99%
“…A recent Stanford University study examined the impact of multifamily housing developments funded by the Low Income Housing Tax Credit on surrounding neighborhoods. Their results indicated that building more affordable housing units in low income areas would lead to a reduction in violent and property crime, an increase in the income of home buyers, and an increase in income diverse populations (Diamond & McQuade, 2019). These increases could potentially lead to more investment and community assets within these materially deprived areas.…”
Section: Future Directionsmentioning
confidence: 99%
“…This makes it difficult to construct a forecast that would credibly match expectations of homebuyers. See Aliprantis and Hartley (2015) and Diamond and McQuade (2019) for related literature. We use homicide data for -2002for Chicago, and 2006-2007 for NYC and Philadelphia as our base period.…”
Section: City-level Crime Instrumentmentioning
confidence: 99%
“…Freedman and Owens (2011) find a significant reduction of crime, measured at the county level, associated with a LIHTC development. Diamond and McQuade (2016) and Freedman and Owens (2011) also find a decline in crime associated with the placement of LIHTC developments.…”
Section: Crimementioning
confidence: 89%