Experiences reveal that the monitoring costs of the foreclosure crisis may be non-trivial, and smaller governments may have more success at addressing potential negative externalities. One highly localized form of government is a homeowners’ association (HOA). HOAs could be well suited for...

type="main" <title type="main">ABSTRACT</title> <p>Residents pay into Homeowners Associations (HOAs) to exert greater control over service provision, their properties and those of their neighbors. HOAs enforce restrictions governing land use within their boundaries, but theory is ambiguous about their impact on public land...</p>

Private homeowners associations (HOAs) levy binding fees and provide local services to members. Both should be capitalized into the value of member properties, but the net effect is ambiguous. We construct the most comprehensive, longitudinal database to date on HOAs for Florida and estimate the...

The Supreme Court’s recent decision in Kelo v. New London allows the use of eminent domain to facilitate private economic development. While the court’s condition for allowing takings was highly expansive, there may be a market failure that warrants state intervention when parcels of land...

Since California voters approved Proposition 13 in 1978, fifteen states have enacted caps on the annual growth in assessed property values. These laws often impose a great burden on municipal finances and create horizontal inequity among homeowners. Why do voters choose to limit local government...