Government intervention in the housing market was partially driven by research showing that foreclosures lower neighboring housing values and thus increase neighbors' risk of foreclosure. While prior research has consistently identified a negative spillover effect of foreclosures on nearby...

Advocates for older central cities increasingly refer to them as “legacy cities” in an attempt to shift policy discussions from their social liabilities to their economic assets. In examining this concept, we place U.S. central cities within the context of their regions and use...