JUE Insight: Condominium development does not lead to gentrification
JOURNAL OF URBAN ECONOMICS(2023)
摘要
Many politicians and voters believe that condominium development hastens gentrification. Indeed, there is a strong positive correlation between the presence of condos in a neighborhood and resident socioeconomic sta-tus. We leverage the introduction of municipal regulations to study the causal effect of condo conversions on neighborhood attributes. Cities that restricted condo conversions experience a persistent decline in the condo share of the housing stock, relative to their neighboring suburbs and compared to metropolitan areas without such restrictions, even at city/suburb borders. Yet, areas with a higher condo share due to local regulations do not have residents with higher income or education levels.
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关键词
Condominium,Gentrification,Municipal regulations,City,suburb borders
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