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Metropolitan Institute

"A Study of Real Estate Markets in Declining Cities."_Follain [online report] - 0 views

www.housingamerica.org/...IHA_ShrinkingCities_Report.pdf

submarkets real estate markets declining cities shrinking cities economics United States population decline neighborhoods

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  • Metropolitan Institute on 04 Jan 12
     
    Follain, James R., PhD. "A Study of Real Estate Markets in Declining Cities." 1-84. Washington, D.C: Research Institute for Housing America of the Mortgage Bankers Association, 2010. From Executive Summary: "The "Great Recession" of 2007 to 2009 has taken a great toll on housing markets in most cities and metropolitan areas in all parts of the country. Though the pace and extent of the overall economic recovery of these markets is still far from certain, many places will likely resume growth and fully recover within the next decade or so. This is almost certainly not to be the case for all metropolitan areas. In fact, a number of large metropolitan statistical areas (MSAs) experienced severe recessions during the latter half of the 20th century and prior to the Great Recession and never fully recovered or took many years to do so. Even among those metro areas with relatively bright long-run prospects for growth, certain submarkets within them may remain well below recent house price peaks for many years to come. What is a declining city? Simply put, a declining city is one in which the people have left, but the houses, apartment buildings, offices and storefronts remain. At the extreme, think of a ghost town from the Old West, a town that lost its reason for being. Are there cities or large metro areas in the United States at risk of disappearing back into the desert (or the swamp) today? Probably not, but there are certainly neighborhoods and submarkets within metro areas that have passed a tipping point, and have little prospect of returning to anything close to their previous peaks. Lastly, another type of declining city may also be emerging - places that grew substantially during the housing boom and are now experiencing unprecedented declines in house prices and increases in foreclosures. The primary goal of this paper is to offer insights on the potential future evolution of real estate markets in cities that are in the midst of a severe and persistent
Metropolitan Institute

"Can Anchor Institutions Save Midtown Detroit: Early Evidence from '15x 15' Initiative.... - 1 views

Vidal, Avis. "Can Anchor Institutions Save Midtown Detroit: Early Evidence from '15x 15' Initiative." Paper to be presented at the annual conference for the Association of Collegiate Schools of P...

anchor institutions distressed neighborhoods University of Chicago Yale Illinois at Trinity College Howard Southern California public-private partnerships foundations Detroit case studie

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

"Beyond REO: Property Transfers at Extremely Distressed Prices in Cuyahoga County, 2005... - 2 views

blog.case.edu/...20081209_beyond_reo_final.pdf

foreclosure distressed properties Cuyahoga County OH

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  • Metropolitan Institute on 04 Jan 12
     
    Coulton, Claudia, Michael Schramm, and April Hirsh. "Beyond Reo: Property Transfers at Extremely Distressed Prices in Cuyahoga County, 2005-2008." Center on Urban Poverty and Community Development, 2008. This report examines the trends of extremely distressed properties in Cuyahoga County between 2005- 2008 after being sold out of REO.
Metropolitan Institute

To be Abandoned, or to be Greened - 3 views

Abstract: Many cities around the country combat increases in abandoned properties, as these properties often become an eyesore in urban landscape. In particular, old industrial cities where a large...

community gardens public-private partnerships tax incentives case studies Philadelphia discrete choice model Neighborhood Information System NIS urban greening In Kwon Park Patricia Ciorci 2011

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Metropolitan Institute

"Save that House! An Examination of Demolition Ordinance." _Many Authors [conference pa... - 0 views

Nasar, Jack, Victoria Morckel, and Jennifer Cowley.  “Save that House! An Examination of Demolition Ordinance.”  Paper to be presented at the annual conference for the Assoc...

housing demolition ordinances case studies survey demolitions tax

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Metropolitan Institute

"Community Gardens as New Forms of Public Space." _Langegger [conference paper] - 0 views

Langegger, Sig. "Community Gardens as New Forms of Public Space." Paper to be presented at the annual conference for the Association of Collegiate Schools of Planning, Salt Lake City, Utah, Octob...

community gardens public spaces urban planning Denver CO case studies

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

"Ohio's Cities at a Turning Point: Finding the Way Forward"_Mallach + Brachman [online] - 2 views

www.brookings.edu/...o_cities_mallach_brachman.aspx

state policy Ohio abandoned properties state funding comprehensive planning land banks neighborhood revitalization urban greening

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  • Metropolitan Institute on 04 Jan 12
     
    Mallach, Alan and Lavea Brachman. "Ohio's Cities At a Turning Point: Finding the Way Forward." Metropolitan Policy Program, Brookings Institution, 2010.
natalieborecki

Surviving the Era of Deindustrialization: The New Economic Geography of the Urban Rustbelt - 3 views

Abstract: This article details the transformation of the urban rust belt over the course of economic restructuring. It begins by building typologies of cities at the starting point of restructuring...

deindustrialization rust belt typologies of cities economic decline George Hobor 2012

started by natalieborecki on 02 Aug 12 no follow-up yet
Metropolitan Institute

"Neighborhoods in the Wake of the Debacle: Intrametropolitan Patterns of Foreclosed Pro... - 1 views

uar.sagepub.com/...3.abstract

foreclosure subprime crisis vacant properties

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  • Metropolitan Institute on 04 Jan 12
     
    Immergluck, Dan. "Neighborhood in the Wake of the Debacle: Intrametropolitan Patterns of Foreclosed Properties." Urban Affairs Review 46,1 (2010): 3-36. A key aspect of the U.S. subprime crisis was the accumulation of vacant, foreclosed properties in many neighborhoods and localities. This article describes zip-code-level patterns of foreclosed homes, or what are typically called "real estate owned" (REO) properties, at the peak of the subprime crisis in late 2008 and estimates a model of REO accumulation from 2006 to 2008. Three key findings emerge. First, during the peak of the subprime foreclosure crisis in late 2008, large central cities, on average, experienced higher levels of REO per mortgageable property than suburban areas. This contradicts some suggestions that the crisis was primarily centered in suburban or exurban communities. Second, the suburbanization of REO varied across two key types of metropolitan areas, with boom-bust regions experiencing more suburbanization than weak- or mixed-market metros. Finally, determinants of zip-code-level REO accumulation included high-risk lending activity and the age of housing stock. After controlling for these and other variables, neither the central city versus suburban location of a zip code nor the proportion of residents commuting over 30 minutes was significantly associated with REO growth. The intrametropolitan location of a zip code appears to have been a less important factor in REO growth than the fact that a large amount of development in newer communities was financed during the subprime boom.
Metropolitan Institute

"Assessing the Effect of Publicly Assisted Brownfield Redevelopment on Surrounding Prop... - 1 views

edq.sagepub.com/...95.short

policy land use hedonic modeling property values brownfield redevelopment Milwaukee Minneapolis housing public funding case studies

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  • Metropolitan Institute on 04 Jan 12
     
    De Sousa, C., Wu, C. and L. Westphal. 2009. "Assessing the Effect of Publicly Supported Brownfield Redevelopment on Surrounding Property Values." Economic Development Quarterly 23(2): 95-110. Abstract: "This study measures and compares the impact of publicly assisted brownfield redevelopment on nearby residential property values in Milwaukee and Minneapolis. It also examines the influence of land use, neighborhood characteristics, and other redevelopment factors on this impact. The research approach incorporates a hedonic method to quantify nearby property value effects at more than 100 brownfield projects, and stakeholder interviews are used to assess perceived impacts to real estate conditions. The results reveal that the spillover effect in terms of raising surrounding property values is significant in both quantity and geographic scope, as redevelopment led to a net increase of 11.4% in nearby housing prices in Milwaukee and 2.7% in Minneapolis. It also reveals that project size, value, and the amount of public funding have minor impacts on this effect; factors such as proximity to major roads, distance from rail, and higher incomes have greater positive impacts."
Metropolitan Institute

Do Vacant Properties Kill Neighborhoods? An Agent-Based Simulation of Property Abandonment - 3 views

Abstract: "Buffalo is among the cities with the highest vacancy rates in the US. Between 2000 and 2009, the number of tax foreclosure properties at the City's tax auction (in rem) increased. By 200...

Buffalo case studies foreclosure population loss homeownership agent-based approach speculative investors homeowners REM properties Fillmore District Li Yin Robert Silverman 2011

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

Planning for Urban Regeneration and Energy Investments: Issues of Conflict and Compatib... - 2 views

Abstract: EPA's RE-Powering America initiative, DOE's Energy Efficiency/Renewable Energy programs and HUD's Sustainable Communities efforts all are directed toward altering energy usage and/or gene...

EPA RE-Powering America Initiative DOE Efficiency Renewable HUD's Sustainable Communities renewable energy generation locally undesirable land uses (LULU) National Association of Local Government Environmental Professionals Peter Meyer 2011

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

The Possibilities of LIHTC Projects in a City with Long Term Population Loss: A Counter... - 2 views

In this paper, shrinking cities refer to cities that have experienced decades-long sustained population loss and, in the United States, those that continued to lose population through the 2000s. Of...

shrinking cities population loss LIHTC New Orleans blight federal policy urban planning Riekes Trivers Ian Ehrenfeucht Renia Ehrenfeucht 2011

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

Will Natural Disasters Accelerate Neighborhood Decline? - 3 views

Abstract: Vacant and abandoned properties are not only an urban ill troubling shrinking industrial cities in the United States, they are also a problem facing many growing urban areas as new develo...

vacant properties natural disasters case studies Miami-Dade County Hurricane Andrew urban planning disaster recovery Yang Zhang 2011

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

Urban Shrinkage and City Responses: How New Bedford, Massachusetts Physically Changed F... - 3 views

Abstract: Economic decline associated with the current economic recession has hit many places hard, but few have seen a whole shift in its physical form as New Bedford. Once the whaling capital of ...

economics recession New Bedford MA case studies local government policy urban planning Justin Hollander 2011

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

Evolution from Urban Renewal to Community Development: Implications for Shrinking Cities - 5 views

Farris, J. Terrence. "Evolution from Urban Renewal to Community Development- Implications for Shrinking Cities." Paper to be presented at the annual conference for the Association of Collegiate S...

urban redevelopment policy shrinking cities displacement renewal community development history planning 1949 Housing Act Terrence J. Farris 2011

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Metropolitan Institute

"Meeting the Challenge of Distressed Property Investors in America's Neighborhoods."_Ma... - 0 views

www.lisc.org/...tressed_Property_Investors.pdf

code enforcement investors community development corporations property owners foreclosure United States REO investors local government

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  • Metropolitan Institute on 04 Jan 12
     
    Mallach, Alan. "Meeting the Challenge of Distressed Property Investors in America's Neighborhoods." 1- 91. New York, NY: LISC, 2010. Introduction: "The mortgage crisis that has gripped the United States since 2007 has resulted in property owners losing millions of properties through foreclosure, with a loss of hundreds of billions of dollars in individual and community assets. Through the foreclosure process, the majority of these properties have been taken back by the mortgage lender and become 'real-estate-owned' or REO properties. For the first year or so after foreclosures took off in 2007, with lenders unprepared to deal with these properties and few buyers of any sort in the marketplace, REO properties often went begging. By the end of 2008, however, that was no longer the case. Private property investors - from "mom & pop" investors buying one or two properties to Wall Street firms and consortia of foreign investors buying entire portfolios - had moved back into the market in large numbers. Since early 2009, the ranks of investors have steadily grown, while it has become less accurate to refer to them as 'REO investors'. Rather than waiting for properties to come into lenders' REO inventories, distressed property investors - as they are more appropriately known - have been increasingly buying houses through short sales, buying non-performing mortgages, or bidding against foreclosing lenders at foreclosure sales. Today, their presence is a major factor in the marketplace of nearly every metropolitan area experiencing large numbers of foreclosures. Their activities are having a powerful effect on neighborhoods generally and on the neighborhood stabilization efforts of cities and non-profit community development corporations (CDCs) in particular. Their effect, however, is a matter of considerable disagreement and even controversy. The purpose of this report is twofold: first, to offer insight into how distressed property investors operate, and how their activ
Metropolitan Institute

"Foreclosure and Beyond: A report on ownership and housing values following sheriff's s... - 1 views

blog.case.edu/...reclosure_and_Beyond_final.pdf

foreclosure Ohio sheriff sales Cleveland OH Cuyahoga County OH

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  • Metropolitan Institute on 04 Jan 12
     
    Coulton, Claudia, Kristen Mikelbank, and Michael Schramm. "Foreclosure and Beyond: A Report on Ownership and Housing Value Following Sheriff's Sales, Cleveland and Cuyahoga County, 2000-07." Center on Urban Poverty and Community Development, 2008. "This study focuses on the cumulative effects of increasing foreclosure rates in Cleveland neighborhoods and suburban municipalities of Cuyahoga County and attempts to answer a number of questions: What entities take ownership of these foreclosed properties and for how long do they hold them? Who purchases these homes next, and how do the sales prices compare to the value of the homes prior to the time they entered the foreclosure process? And have these patterns changed as the number of properties being auctioned at sheriff's sale has skyrocketed?"
Metropolitan Institute

"Activist Literacy in Shrinking Cities: Lessons for Urban Education."_Hollander & Holla... - 0 views

scholarworks.gvsu.edu/...viewcontent.cgi

shrinkage activism community development shrinking cities population decline literacy artifacts Youngstown OH Richmond VA Pittsburgh PA education

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  • Metropolitan Institute on 04 Jan 12
     
    Hollander, Pamela W. and Hollander, Justin B. (2008) "Activist Literacy in Shrinking Cities: Lessons for Urban Education," Language Arts Journal of Michigan: Vol. 24: Iss. 1, Article 9. Available at: http://scholarworks.gvsu.edu/lajm/vol24/iss1/9
Metropolitan Institute

"Landbanking as Metropolitan Policy. Blueprint for American Prosperity."_Alexander [onl... - 0 views

www.brookings.edu/...mortgage_crisis_alexander.aspx

mortgage foreclosure post-industrial cities land banks policy local governments productive reuse federal policy

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  • Metropolitan Institute on 04 Jan 12
     
    Alexander, Frank S (2008). "Landbanking as Metropolitan Policy. Blueprint for American Prosperity." Washington, DC: The Brookings Institution. Available at http://www.brookings.edu/papers/2008/1028_mortgage_crisis_alexander.aspx Executive Summary: "Stressed by the catastrophic mortgage foreclosure crisis and the long-run decline of older, industrial regions, communities around the country are becoming increasingly burdened with vacant and abandoned properties. In order to alleviate the pressures on national prosperity caused by these derelict properties, the federal government needs to advance policies that support regional and local land banking for the 21st century. Land banking is the process or policy by which local governments acquire surplus properties and convert them to productive use or hold them for long term strategic public purposes. By turning vacant and abandoned properties into community assets such as affordable housing, land banking fosters greater metropolitan prosperity and strengthens broader national economic well-being."
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