Press Release

Policies to Promote Affordable Housing

June 20, 2003
Note To Editors

Policies to Promote Affordable Housing--a special issue of the Federal Reserve Bank of New York’s Economic Policy Review--is available.

The New York Fed and New York University’s Furman Center for Real Estate and Urban Policy cosponsored a conference in 2002 to examine public and private sector strategies to ease housing problems of low- and moderate-income families.

The papers from the conference analyze affordable housing from a national perspective as well as focus on the conditions unique to the New York City metro area. Key topics of interest include the cost burdens that housing places on low- and moderate-income families, policies designed to lower housing costs for these families, and efforts that inadvertently may have exacerbated the shortage of affordable housing.

Contents include:

Session 1: State of New York City’s Housing and Neighborhoods

  • "State of New York City’s Housing and Neighborhoods: An Overview of Recent Trends," by Michael H. Schill and Glynis Daniels, New York University.

Session 2: Affordable Housing and the Housing Market

  • "The Impact of Building Restrictions on Housing Affordability," by Edward L. Glaeser, Harvard, and Joseph Gyourko, University of Pennsylvania.
  • "Government Regulation and Changes in the Affordable Housing Stock," by C. Tsuriel Somerville, University of British Columbia, and Christopher J. Mayer, University of Pennsylvania.

Session 3: The Impact of Housing on People and Places

  • "Housing Production Subsidies and Neighborhood Revitalization: New York City’s Ten-Year Capital Plan for Housing," by Ingrid Gould Ellen, Michael H. Schill, Amy Ellen Schwartz, and Ioan Voicu, New York University.
  • "Effects of Homeownership on Children: The Role of Neighborhood Characteristics and Family Income," by Joseph M. Harkness and Sandra J. Newman, Johns Hopkins.
  • "The Impacts of New Neighborhoods on Poor Families: Evaluating the Policy Implications of the Moving to Opportunity Demonstration," by John Goering, Baruch College.

Session 4: Housing Subsidies and Finance

  • "Comparing the Costs of Federal Housing Assistance Programs," by Denise DiPasquale, City Research, and Dennis Fricke (ret.) and Daniel Garcia-Diaz, U.S. General Accounting Office.
  • "The Twenty-Fifth Anniversary of the Community Reinvestment Act: Past Accomplishments and Future Regulatory Challenges," by William C. Apgar and Mark Duda, Harvard.

Contact:
Linda Ricci
(212) 720-6143
linda.ricci@ny.frb.org