HOW AFFORDABLE HOUSING IMPACTS THE NEIGHBORHOOD The proposal that country requires more affordable homes is mostly a good idea, but just not to everyone. Homeowners and community groups often turn down proposals of low-income housing within their neighborhoods citing that such developments could push down the real estate prices in the area, among other things. Well, how true is this?
The Redfin study further revealed that 18 of the 26 metro areas under study showed no 20
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significant difference in the prices of nearby homes sold before and after the construction of low-income housing development, compared to similar homes far from the development but within the same neighborhood. The study further indicated that four of the eight metro areas— Boston, Philadelphia, Washington, D.C. and Charlotte, NC— that showed substantial variances, recorded homes near low-income THE POWER IS NOW MAGAZINE | MAY 2021
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ccording to a Redfin analysis of over 220,000 home sales in neighborhoods with low-income housing developments in 26 metro areas across the country conducted between 2007 and 2019, “construction of lowincome housing developments has had no consistent impact on the sale prices of nearby homes.”
