The spatial mismatch hypothesis, first stated by Kain (1968), argues that job decentralization in U.S. cities has contributed to low incomes and high unemployment rates for black Americans. Decentralization relocates job sites to white suburban communities far from the CBD, and housing...

Early buyers of single-family residences in newly developed subdivisions assume a greater level of risk than later buyers in choosing to purchase a home in a new subdivision where the market has not been sufficiently established. This risk stems from such things as uncertainty regarding the...