Cityscape has accepted a new paper co-authored in part by ESI Principal Richard Voith and former Associate Director Jing Liu. The paper examines the impact of Low Income Housing Tax Credit (LIHTC) financed development on neighborhood house prices. Research typically shows that LIHTC-financed properties generate positive spillover impacts in their surrounding communities as reflected in neighborhood house values. Yet some critics suspect that the overall positive effects obscure the properties’ negative impacts for a significant subset of neighborhoods. On the contrary, this research demonstrates that, regardless of the property or neighborhood characteristics, LIHTC developments in Los Angeles have positive impacts on their neighborhood.
