New York City

Do New Housing Units in Your Backyard Raise YourRents?

Published: 2019 | Xiaodi Li | NYU Furman Center Abstract There is a growing debate about whether new housing units increase rents for immediately surrounding apartments. Some argue new market-rate development produces a supply effect, which should alleviate the demand…

Does Luxury Housing Construction Increase Nearby Rents?

Published: 2019 | Evan Mast | Upjohn Institute for Employment Research Abstract A major obstacle to new housing construction in gentrifying neighborhoods is the fear that new units will induce additional housing demand, increasing local rents and fueling further gentrification.…