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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

"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

"The Effect of Community Gardens on Neighboring Property Values"_Been & Voicu [working ... - 1 views

lsr.nellco.org/...viewcontent.cgi

community gardens maintenance hedonic modeling New York City case study property values urban parks

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  • Metropolitan Institute on 04 Jan 12
     
    Been , Vicki and Voicu, Ioan, "The Effect of Community Gardens on Neighboring Property Values" (2006). New York University Law and Economics Working Papers. Paper 46. http://lsr.nellco.org/nyu_lewp/46 DRAFT PAPER - PLEASE DO NOT CITE WITHOUT PERMISSION Abstract: "Cities across the United States increasingly are debating the best way to use vacant "infill" lots. The community garden movement is one of the major contenders for the space, as are advocates for small public "pocket" parks and other green spaces. To allocate the land most efficiently and fairly, local governments need sound research about the value of such gardens and parks to their host communities. At the same time, cities are looking for new ways of financing the development and maintenance of public garden and park space. Some have turned to tax increment financing to generate resources, other are introducing impact fees or special assessments to cover the costs of urban parks. In order to employ such financing mechanisms, both policy concerns and legal constraints require local governments to base their charges on sound data about the impacts green spaces have on the value of the neighboring properties that would be forced to bear the incidence of the tax or fee. Despite the clear public policy need for such data, our knowledge about the impacts community gardens and other such spaces have on surrounding neighborhoods is quite limited. No studies have focused specifically on community gardens, and those that have examined the property value impacts of parks and other open space are cross-sectional studies inattentive to when the park opened, so that it is impossible to determine the direction of the causality of any property value differences found. The existing literature also has paid insufficient attention to qualitative differences among the parks studied and to differences in characteristics of the surrounding neighborhoods that might affect the parks' impacts
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

"Psychiatric Implications of Displacement: Contributions from the Psychology of Place."... - 1 views

ajp.psychiatryonline.org/...1516

geographic displacement displacement psychology of place neighborhood environment place identity mental health psychiatry gentrification

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  • Metropolitan Institute on 04 Jan 12
     
    Fullilove, Mindy Thompson, M.D. "Psychiatric Implications of Displacement: Contributions from the Psychology of Place." The American Journal of Psychiatry, 1996: 1516- 1523. OBJECTIVE: "The purpose of this article is to describe the psychological processes that are affected by geographic displacement. METHOD: The literature from the fields of geography, psychology, anthropology, and psychiatry was reviewed to develop a "psychology of place" and to determine the manner in which place-related psychological processes are affected by upheaval in the environment. RESULTS: The psychology of place is an emerging area of research that explores the connection between individuals and their intimate environments. The psychology of place posits that individuals require a "good enough" environment in which to live. They are linked to that environment through three key psychological processes: attachment, familiarity, and identity. Place attachment, which parallels, but is distinct from, attachment to person, is a mutual caretaking bond between a person and a beloved place. Familiarity refers to the processes by which people develop detailed cognitive knowledge of their environs. Place identity is concerned with the extraction of a sense of self based on the places in which one passes one's life. Each of these psychological processes- attachment, familiarity, and place identity-is threatened by displacement, and the problems of nostalgia, disorientation, and alienation may ensue. CONCLUSIONS: As a result of war, decolonization, epidemics, natural disasters, and other disruptive events, millions of people are currently displaced from their homes. Protecting and restoring their mental health pose urgent problems for the mental health community."
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

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

"Addressing the Vacant and Abandoned Property Problem"_Accordino and Johnson [journal a... - 0 views

onlinelibrary.wiley.com/...abstract

revitalization property abandonment survey crime prevention code enforcement tax foreclosure eminent domain central city United States

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  • Metropolitan Institute on 04 Jan 12
     
    Accordino, John and Johnson, Gary (2000). Addressing the Vacant and Abandoned Property Problem. Journal of Urban Affairs, 22(3), 301-315. Abstract: "Vacant and abandoned property is increasingly recognized as a significant barrier to the revitalization of central cities. This study sheds some light on the nature of the property abandonment problem and on current city efforts to address it. It is based upon the findings of a survey of the 200 most populous central cities in the United States, conducted during the summer and fall of 1997, and on follow-up interviews with a portion of the survey population, conducted during the summer of 1998. The findings of the survey and interviews indicate that vacant and abandoned property is perceived as a significant problem by elected and appointed officials in the nation's largest central cities. This type of property affects many aspects of community life, including housing and neighborhood vitality, crime prevention efforts, and commercial district vitality. Single- and multi-family housing, retail properties and vacant land are the most problematic types of vacant and abandoned property for most cities. Cities use a variety of techniques to address this problem, including aggressive code enforcement, tax foreclosure, eminent domain, and cosmetic improvements. One-third of the cities surveyed use a variety of other innovative tools to combat the vacant and abandoned property problem. Nevertheless, current efforts to combat the problem suffer from a number of shortcomings that are described in the article."
Metropolitan Institute

"Errors Expected - Aligning Urban Strategy with Demographic Uncertainty in Shrinking Ci... - 1 views

www.tandfonline.com/...13563470802519097

population decrease urban planning Dresden Europe suburbanization reurbanization shrinking cities strategic flexibility

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  • Metropolitan Institute on 04 Jan 12
     
    Wiechmann, Thorsten (2008). Errors Expected - Aligning Urban Strategy with Demographic Uncertainty in Shrinking Cities. International Planning Studies, 13(4), 431-446. Abstract: "At the beginning of the 21st century, the majority of Europe's cities experienced a population decrease. Dealing with the results of demographic, economic and physical contraction processes and planning for the future of considerably smaller but nevertheless livable cities presents some of the most challenging tasks for urban Europe in the near future. This article highlights the example of Dresden in Eastern Germany, where the breakdown of the state-directed economy caused economic decline, industrial regression, and high unemployment rates. Due to out migration and decreasing birth rates, the city lost 60,000 of its 500,000 residents within one decade. As a consequence, there were housing and office vacancies as well as infrastructure oversupplies. Yet the administrative system was still directed towards growth objectives throughout the 1990s. Only after 2000 this situation changed dramatically. The new strategic plan for Dresden is no longer growth oriented. Instead, it focuses on a model of the compact 'European city', with an attractive urban centre, reduced land consumption, and a stable population. However, in another unexpected turn of events, within the last seven years the city has experienced an unexpected growth of 25,000 residents. Surprisingly, processes of suburbanization have turned into processes of reurbanization. Today in Dresden, areas of shrinkage and decline are in close proximity to prospering and wealthy communities. The strategic challenge is to deal with this patchwork while accepting that the future remains unpredictable. Hence, strategic flexibility becomes more important than the strategy itself. To a certain extent rational analysis and error prevention is displaced by preparedness, robustness, and resilience as key qualifications of planning in shrinking c
Metropolitan Institute

"Mortgage Foreclosures: Additional Mortgage Servicer Actions Could Help Reduce the Freq... - 0 views

www.gao.gov/GAO-11-93

home mortgage loans servicers foreclosure bank walkaway community impacts local governments counseling abandoned foreclosures

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  • Metropolitan Institute on 04 Jan 12
     
    United States Government Accountability Office. "Mortgage Foreclosures: Additional Mortgage Servicer Actions Could Help Reduce the Frequency and Impact of Abandoned Foreclosures." 1-86. Washington, D.C.: U.S. GAO, 2010. Summary: "Entities responsible for managing home mortgage loans--called servicers--may initiate foreclosure proceedings on certain delinquent loans but then decide to not complete the process. Many of these properties are vacant. These abandoned foreclosure--or "bank walkaway"--properties can exacerbate neighborhood decline and complicate federal stabilization efforts. GAO was asked to assess (1) the nature and prevalence of abandoned foreclosures, (2) their impact on communities, (3) practices that may lead servicers to initiate but not complete foreclosures and regulatory oversight of foreclosure practices, and (4) actions some communities have taken to reduce abandoned foreclosures and their impacts. GAO analyzed servicer loan data from January 2008 through March 2010 and conducted case studies in 12 cities. GAO also interviewed representatives of federal agencies, state and local officials, nonprofit organizations, and six servicers, among others, and reviewed federal banking regulations and exam guidance. Among other things, GAO recommends that the Federal Reserve and Office of the Comptroller of the Currency (OCC) require servicers they oversee to notify borrowers and communities when foreclosures are halted and to obtain updated valuations for selected properties before initiating foreclosure. The Federal Reserve neither agreed nor disagreed with these recommendations. OCC did not comment on the recommendations. Using data from large and subprime servicers and government-sponsored mortgage entities representing nearly 80 percent of mortgages, GAO estimated that abandoned foreclosures are rare--representing less than 1 percent of vacant homes between January 2008 and March 2010. GAO also found that, while abandoned foreclosures have occurred
Metropolitan Institute

"Facing the Challenge of Shrinking Cities in East Germany: The Case of Leipzig."_Bontje... - 0 views

www.ingentaconnect.com/...05270843

Leipzig East Germany shrinking cities urban development strategies

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  • Metropolitan Institute on 04 Jan 12
     
    Bontje, M. (2004). "Facing the challenge of shrinking cities in East Germany: The case of Leipzig." GeoJournal. 61, 13-21. Abstract: "In the early 20th century, the East German city of Leipzig seemed well on its way to become a metropolis of international importance. The city was expected to grow towards over one million inhabitants in 2000. Seventy years later, Leipzig's population has shrunk to less than 500,000 inhabitants instead. The German partition after World War II took away most of its national administrative and economic functions and much of its hinterland. The socialist GDR regime worsened the long-term development perspectives and living circumstances of the city. The German reunification brought new development chances, but like most East German cities, Leipzig's hopes soon became disappointed. The local politicians faced a difficult redevelopment task: apart from the question how to revive the local and regional economy, they also had to deal with a housing vacancy rate of 20%, a huge need for renovation in the older neighbourhoods as well as in the socialist high-rise areas, the negative effects of urban sprawl on the city core, and various environmental pollution problems. After briefly describing the development path of Leipzig until the 1990s, the paper will discuss the current attempts of the city government to give Leipzig a more positive post-industrial future. On the one hand, Leipzig is developing a strategy to 'downsize' the city's built environment and infrastructure to adapt to a probably lastingly smaller population. On the other hand, many growth instruments well known from the international scientific and political debate are tried to put Leipzig back on the (inter)national map. The paper will discuss these development strategies in the light of the international debate on the question 'how to fight the shrinking city', with specific attention for post-socialist cities."
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

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

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

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

"New Approaches to Comprehensive Neighborhood Change: Replicating and Adapting LISC's B... - 1 views

www.instituteccd.org/1479

Chicago IL New Communities Program community development LISC case studies Building Sustainable Communities Program assessment neighborhood change

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  • Metropolitan Institute on 04 Jan 12
     
    Walker, Chris, Sarah Rankin, and Francisca Winston. "New Approaches to Comprehensive Neighborhood Change: Replicating and Adapting LISC's Building Sustainable Communities Program." New York, NY: LISC, 2010. In 2006, LISC issued in-house requests for proposals to select 10 cities to participate in the Building Sustainable Communities program, a national expansion of its comprehensive approach to community development, which it had piloted in Chicago through the New Communities Program (NCP). Adopting the core elements of comprehensive community development in a varied set of cities would further test the ability of the approach to offer transferrable lessons for LISC and the field as a whole. This report by LISC's Research and Assessment team is the first installment of a long-term assessment of how the NCP platform has been replicated in the first 10 demonstration cities of the Sustainable Communities program. The authors conclude that a large majority of the 38 neighborhoods involved in Sustainable Communities are replicating the NCP model, based on examining the following elements: * Target neighborhoods and their challenges * Supportive and effective community leadership * Quality-of-life planning and comprehensive programs * Intermediation and systemic support "Some sites are blessed with ample foundation support for neighborhood development; others less so. In some neighborhoods, leadership is highly concentrated in one of two organizations that work well together; in others, leadership is diffuse and fractious. Nevertheless, the approach has proven adaptable enough to work well across different neighborhoods in Chicago. Can it be adapted to different neighborhood and city contexts simultaneously?" The report's findings are based on the LISC research staff's review of program documents, neighborhood-level statistics, and reports from LISC staff members and technical assistance consultants.
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

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Metropolitan Institute

Combating Suburban Decline: The Role of Social Capital and CDCs - 2 views

Abstract: This paper analyzes the role of social capital and Community Development Corporations (CDCs) in Cincinnati's inner-suburbs as tools to combat suburban decline. Building off of previous re...

social capital community development corporations inner suburbs Cincinnati Ohio suburban decline neighborhood revitalization economic stability networks Joanna Mitchell Brown 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

Unearthing the benefits of brownfield to green space projects: An examination of projec... - 2 views

Abstract: "The redevelopment of brownfields and the creation of green space in cities are two initiatives that are gaining support in the US, for they are perceived to be important elements for fos...

Chicago quality of life urban revitalization sustainable development green space property values survey federal policy Minneapolis brownfield redevelopment C. DeSousa 2006

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Metropolitan Institute

"Abandoned Housing: Exploring Lessons from Baltimore. Housing Policy Debate."_Cohen [jo... - 0 views

www.tandfonline.com/...10511482.2001.9521413

population decline economic decline development revitalization housing neighborhood United States Baltimore MD planning

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  • Metropolitan Institute on 23 Nov 11
     
    Cohen, James R. (2001). "Abandoned Housing: Exploring Lessons from Baltimore. Housing Policy Debate." 12(3), 415-48. Abstract: "Population loss and economic decline have resulted in thousands of abandoned homes in major U.S. cities. Although abandoned homes are symptomatic of other problems, they also contribute to neighborhood decline and frustrate revitalization. This article provides an overview of the national scope of abandoned housing and profiles Baltimore's strategy for addressing this problem. Challenges in Baltimore's revitalization planning include the necessity of and financial requirements for a comprehensive approach and the difficulty of reaching consensus. Widespread property "flipping" hampers prevention. Efforts to acquire and demolish units are constrained by difficulties in tracking ownership, felons' ownership of derelict units, and a shortage of staffing to process takings. Challenges in rehabilitating and marketing row houses include the need for subsidies to make units affordable to the most likely buyers, the omnipresence of lead paint, and the lack of foreign immigration. The article proposes a more strategic approach to the city's revitalization planning." [Also view: Culhane, Dennis P., and Amy E. Hillier (2001). "Comment on 'Abandoned Housing: Exploring Lessons From Baltimore.'" Housing Policy Debate. 12(3), 449-55.]
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