Neighborhood Price Externalities of Foreclosure Rehabilitation: An Examination of the Neighborhood Stabilization Program

PDF Version Also Available for Download.

Description

This article examines the neighborhood price impacts of Neighborhood Stabilization Program (NSP) funded foreclosure rehabilitation undertaken by Habitat for Humanity in Dallas County, Texas using a difference-in-difference framework.

Physical Description

31 p.

Creation Information

Leonard, Tammy; Jha, Nikhil & Zhang, Lei January 12, 2017.

Context

This article is part of the collection entitled: UNT Scholarly Works and was provided by the UNT College of Arts and Sciences to the UNT Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 73 times. More information about this article can be viewed below.

Who

People and organizations associated with either the creation of this article or its content.

Authors

Publisher

Provided By

UNT College of Arts and Sciences

The UNT College of Arts and Sciences educates students in traditional liberal arts, performing arts, sciences, professional, and technical academic programs. In addition to its departments, the college includes academic centers, institutes, programs, and offices providing diverse courses of study.

Contact Us

What

Descriptive information to help identify this article. Follow the links below to find similar items on the Digital Library.

Degree Information

Description

This article examines the neighborhood price impacts of Neighborhood Stabilization Program (NSP) funded foreclosure rehabilitation undertaken by Habitat for Humanity in Dallas County, Texas using a difference-in-difference framework.

Physical Description

31 p.

Notes

Abstract: 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.

This is a post-peer-review, pre-copyedit version of an article published in Empirical Economics. The final authenticated version is available online at: http://dx.doi.org/10.1007/s00181-016-1194-1.

Source

  • Empirical Economics, 52(3), Springer, January 12, 2017, pp. 1-31

Language

Item Type

Identifier

Unique identifying numbers for this article in the Digital Library or other systems.

Publication Information

  • Publication Title: Empirical Economics
  • Volume: 52
  • Issue: 3
  • Peer Reviewed: Yes

Collections

This article is part of the following collection of related materials.

UNT Scholarly Works

Materials from the UNT community's research, creative, and scholarly activities and UNT's Open Access Repository. Access to some items in this collection may be restricted.

What responsibilities do I have when using this article?

When

Dates and time periods associated with this article.

Creation Date

  • January 12, 2017

Added to The UNT Digital Library

  • Jan. 23, 2018, 5:28 a.m.

Description Last Updated

  • Nov. 28, 2023, 2:56 p.m.

Usage Statistics

When was this article last used?

Yesterday: 0
Past 30 days: 0
Total Uses: 73

Where

Geographical information about where this article originated or about its content.

Publication Place

Map Information

  • map marker Place Name coordinates. (May be approximate.)
  • Repositioning map may be required for optimal printing.

Mapped Locations

Interact With This Article

Here are some suggestions for what to do next.

Start Reading

PDF Version Also Available for Download.

International Image Interoperability Framework

IIF Logo

We support the IIIF Presentation API

Leonard, Tammy; Jha, Nikhil & Zhang, Lei. Neighborhood Price Externalities of Foreclosure Rehabilitation: An Examination of the Neighborhood Stabilization Program, article, January 12, 2017; New York, New York. (https://digital.library.unt.edu/ark:/67531/metadc1062057/: accessed April 14, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT College of Arts and Sciences.

Back to Top of Screen