Information, neighborhood characteristics, and home mortgage lending

Article Abstract:

This article evaluates the role of information and neighborhood characteristics in mortgage lending. Results show that rejection rates increase with lender-property distance and neighborhood attribute effects are modest.

United States, Statistical Data Included, Analysis, Evaluation, Mortgages, Neighborhood, Neighborhoods

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Property taxes and urban housing abandonment

Article Abstract:

Housing data from New York City is used to develop an economic model of landlord abandonment of property in urban areas. Such abandonment is related to property tax, by building type and household characteristics by neighborhood. The research and data compilation indicate that: (1) property abandonments could be minimized by beginning city foreclosure processes as soon as landlords get behind in their property tax payments, and (2) abandonments of property are directly related to property tax levels. The research suggests that urban blight caused by property abandonment could be somewhat offset by reducing property tax rates in adversely affected neighborhoods.

Research, Economic aspects, Housing research, New York, Urban economics, Property taxes, Community development, Property tax, Home ownership, Abandonment of property, Abandonment (Law), New York (City)

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