This paper analyzes the pattern of house price appreciation in the Boston area from 1982 to 1994. The empirical results are consistent with the predictions of a standard urban model in which towns have a fixed set of amenities. The evidence suggests that changes in the cross-sectional pattern of...

Explore some new ideas for strengthening the Low Income Housing Tax Credit in light of today’s economic environment.

Related links: http://www.richmondfed.org/publications/research/region_focus/2010/q4/around_the_fed_weblinks.cfm

Many observers claim that we are in the midst of an “affordable housing shortage” or, even worse, an “affordable housing crisis.” The primary concern is that too many households live in “unaffordable” rental units. We hope to clarify the current debate by first measuring the size of...