To help communities recover from the foreclosure crisis, Congress enacted a set of policies known as the Neighborhood Stabilization Program (NSP). NSP's objective was to mitigate the impact of foreclosures on neighboring properties, through reducing the stock of distressed properties and...

During the 2007-2009 housing crisis, concentrations of foreclosed and vacant properties created severe blight in many cities and neighborhoods. The federal Neighborhood Stabilization Program (NSP) was established to help mitigate distress in hard-hit areas by funding the rehabilitation or...

Are contemporary metropolitan regions becoming more dispersed? There are theoretical arguments for both concentration and dispersal. The purpose of our research is to establish an empirical base that can help us to understand the evolution of metropolitan spatial structure. Using data for the...

This paper argues for the importance of separating the bundled good of housing into land and improvements, because locational amenities – which often constitute a significant portion of property value – are typically capitalized into the value of land but not the value of the...

Are contemporary metropolitan regions becoming more dispersed? There are theoretical arguments for both concentration and dispersal. The purpose of our research is to establish an empirical base that can help us understand the evolution of metropolitan spatial structure. Using data for the Los...

Homeownership rates have reached unprecedented levels in the United States. According to 2005 Current Population Survey data, virtually every segment of the population has higher homeownership rates than they did a decade ago - although the gains have been largest among Hispanics. Yet, despite...

We review the economics perspective on sustainable resource use and sustainable development. Under standard conditions, dynamic efficiency leads to sustainability of renewable resources but not the other way around. For the economic‐ecological system as a whole, dynamic efficiency and...

Managing water resources independently may result in substantial economic losses when those resources are interdependent with each other and with other environmental resources. We first develop general principles for using resources with spillovers, including corrective taxes (subsidies) for...