Land use regulation has been found to impose a substantial tax on housing within select U.S. metropolitan areas. In this article, we develop hypotheses regarding the incidence of this tax by income class and racial group within these areas. Parcel-level data from Miami-Dade County, Florida, are...

Existing studies of the relationship between housing price dynamics and housing supply—which have relied upon questionable proxies for supply elasticity—have yielded highly mixed results. In this paper we provide new evidence on this relationship based on actual estimates of the price...

One overlooked consequence of America's foreclosure crisis is the impact it had on school segregation. Using data on Florida schools, we find that the crisis reduced the racial segregation of elementary schools by opening up affordable housing opportunities to black families in predominantly...

Children from poor families achieve more academically if they are enrolled in schools that are socioeconomically integrated, but low-income students are increasingly attending schools characterized by high concentrations of poverty. Providing more housing opportunities for low-income families...

Foreclosures have been shown to have a negative financial impact on borrowers, lenders, and neighbors. It has also been argued that they have important negative effects on the budgets of local governments, but there is scant evidence supporting this claim. This paper relates expenditures and the...

The foreclosure crisis in the U.S. has resulted in a large number of residential REOs. These properties have been value of nearby homes. An unresolved issue is whether these negative spillover effects disappear after the REO is sold. Effects are greater if the REO is purchased by an investor in...

Buyers pay different prices for nearly identical homes. One explanation for this is that housing markets are thin, resulting in price bargaining between sellers and buyers. If the relative bargaining power of buyers varies, so will sales prices. One hypothesis is that the relative bargaining...