Answered step by step
Verified Expert Solution
Question
1 Approved Answer
can you paraphrase: The Urban Institute recently released an affordable housing case study from Alexandria, Virginia. The results indicate that affordable housing has a positive
can you paraphrase: The Urban Institute recently released an affordable housing case study from Alexandria, Virginia. The results indicate that affordable housing has a positive if not zero effect on property values. "Affordable housing units in above-median-income census tracts are associated with a 0.06 percent increase in property values, and affordable housing units in below-median-income tracts are associated with a 0.17 percent increase in nearby property values." "Affordable housing units in Alexandria are associated with an increase in property values of 0.09 percent within 1/16 of a mile [one city block] of a development, on average" and "no effect on properties between 1/16 of a mile and 3/16 of a mile." Source: How Affordable Housing Makes Communities Wealthier(link is external) (California YIMBY, May 18, 2022) The National Association of REALTORS has released the Housing Pulse Survey since 2003. The most recent iteration was released in 2017. You can find the executive summaries on the linked page. Key findings include that 44% of Americans "categorize the lack of available housing that is affordable as a very big or fairly big problem." There are many misconceptions about affordable housing, the main one being that they decrease property values. A recent study in Alexandria, Virginia has proven that affordable housing actually increases or has zero effect on property value
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started