New Market-Rate Development
(Housing, Community Development, and Urban Policy)
*Names in bold indicate Presenter
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.