Panel: New Market-Rate Development
(Housing, Community Development, and Urban Policy)

Thursday, November 7, 2019: 3:30 PM-5:00 PM
I.M Pei Tower: 2nd Floor, Tower Court B (Sheraton Denver Downtown)

*Names in bold indicate Presenter

Organizer:  Xiaodi Li, New York University
Panel Chair:  Ingrid Gould Ellen, New York University
Discussants:  Devin Bunten, Massachusetts Institute of Technology and Paavo Monkkonen, University of California, Los Angeles

Many economists believe new market-rate development is critical to keep housing affordable, due to the laws of supply and demand. However, community members express concerns that new market-rate development and its high-income residents might drive up housing demand in the neighborhood, which leads to growing housing prices, gentrification, and displacement. How institutional design affects new market-rate development? What else affects new market-rate development? What is the impact of new market-rate development? Does it solve the housing affordability issue? Does it displace low-income residents? Does it trigger gentrification? This session explores those questions from perspectives of economists, social scientists, and urban planners.

The Effect of Neighborhood Representation on the Aggregate and Distributive Housing Supply in Cities
Michael Hankinson, Baruch College, City University of New York and Asya Magazinnik, Princeton University

The Effect of New Market-Rate Housing Construction on the Low-Income Housing Market
Evan Mast, W.E. Upjohn Institute for Employment Research

Do More Housing Units Reduce Nearby Rents?
Xiaodi Li, New York University