- Title
- Does Condominium Development Lead to Gentrification
- Author(s)
- Leah Platt Boustan Leah Boustan (Princeton University)
- Robert A. Margo Robert Margo (Boston University)
- Matthew M. Miller Matthew Miller (Audible)
- James M. Reeves James Reeves (University of Michigan)
- Justin P. Steil Justin Steil (MIT)
- Abstract
- The condominium structure, which facilitates ownership of units in multi-family buildings, was only introduced to the US during the 1960s. We ask whether the subsequent development of condominiums encouraged high-income households to move to central cities. Although we document a strong positive correlation between condominium density and resident income, this association is entirely driven by endogenous development of condos in areas otherwise attractive to high-income households. When we instrument for condo density using the passage of municipal regulations limiting condo conversions, we find little association between condo development and resident income, education or race.
- Creation Date
- 2019-08
- Section URL ID
- Paper Number
- 2019-11
- URL
- https://www.nber.org/system/files/working_papers/w26170/w26170.pdf
- File Function
- Jel
- N92, R28, R31
- Keyword(s)
- Gentrification, Housing
- Suppress
- false
- Series
- 13