Uncertain neighborhood effects and restrictive covenants

Article Abstract:

A theoretical model and empirical examination of private land use contracts in an urban housing market is provided. A significant difference of this investigation from conventional analyses of neighborhood effects and policies is in the explicit treatment of neighborhood externalities as uncertain processes. In this viewpoint, the potential resident sees the contractual obligation set through deed restrictions as believable commitment by unknown future neighbors to use their own property within the defined bounds, thus minimizing uncertainty or riskiness of future externality effects. Consumers commit themselves to the contractual restrictions formed at the subdivision filing, thereby supporting economic behavior that lowers the general level of housing consumption risk of all land users in the subdivision. This erases having to contend with the free-rider problem usually undermining cooperative agreements.

Models, Contracts, Housing research, Land use, Covenants

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Subsidized parking and neighborhood nuisances

Article Abstract:

Most businesses and institutions provide free or below-market price parking to their employees and customers. However, such subsidized parking is usually found to be inadequate to satisfy demand. The resulting spillover generates animosity between the institution and the community because employees and customers do their parking on neighborhood lots and streets. The institution attempts to resolve this situation by offering more parking spaces, a strategy that has proven to be ineffective and have the potential to worsen the problem. The rationale behind this is that expansions of subsidized parking may prove to be an incentive for travelers to abandon public transportation and opt for automobile travel. If parking demand is price elastic, a one unit increase in free parking leads to more than one more parker, which further exacerbates spillover effects.

Automobile parking, Parking Lots, Parking Lots and Garages, Nuisances, Nuisance, Car parking

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Defining neighborhood boundaries: are census tracts obsolete?

Article Abstract:

A study uses hedonic model to learn about the demographic aspects of residential neighborhoods.

United States, Demographic aspects, Census districts, Neighbourhoods

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