Low-Income Housing in Crisis

2021 ◽  
pp. 20-57
Author(s):  
Benjamin Holtzman
Keyword(s):  
Real Estate ◽  
Low Income ◽  
Real Estate Market ◽  
Urban Neighborhoods ◽  
The Political ◽  
Self Help ◽  
Political Left ◽  
1960S And 1970S ◽  
The Right ◽  
Low Income Housing

During the late 1960s and 1970s, extensive disinvestment and an eviscerated real estate market led landlords of low-income housing to walk away from their real estate holdings, leaving thousands of buildings unoccupied and often city-owned due to nonpayment of taxes. In response, Latinx, African American, and some white residents protested the blight these buildings brought to their neighborhoods by directly occupying and seeking ownership of abandoned buildings through a process they called urban homesteading. Activists framed homesteading as a self-help initiative, often emphasizing their own ingenuity over state resources as the key to solving the problems of low-income urban neighborhoods. Such framing was understandable given the unstable economic terrain of the 1970s and won activists support not just from the political left, but also the right. But it also positioned homesteading as demonstrating the superiority of private-citizen and private sector–led revitalization in ways that left homesteading projects vulnerable as it became clear how necessary government resources would be to their success.

Do Firms Incur Costs to Avoid Reducing Pre-Tax Earnings? Evidence from the Accounting for Low-Income Housing Tax Credits

2010 ◽  
Vol 85 (2) ◽  
pp. 637-669 ◽  
Author(s):  
Leslie A. Robinson
Keyword(s):  
Real Estate ◽  
Low Income ◽  
Market Price ◽  
Tax Credits ◽  
Tax Credit ◽  
Income Statement ◽  
Confidential Data ◽  
Corporate Investors ◽  
The Right ◽  
Low Income Housing

ABSTRACT: Examining corporate investment in low-income housing tax credits reveals that firms are willing to incur costs in order to manage the income statement classification of an expense. Accounting rules allow investors who purchase a tax benefit guarantee to amortize their equity in a real estate partnership as a tax expense, rather than as an operating expense, thus avoiding a reduction in pre-tax earnings. Using confidential data from tax credit syndicators, I model the market price of a tax credit as a function of the existence of the guarantee, controlling for foreclosure risk on the underlying real estate. The results are consistent with the hypothesis that an economically significant amount of the guarantee fee is paid by corporate investors for the right to use an accounting method that avoids reductions in pre-tax earnings.

scholarly journals Urban Heritage as Ethos in Resource-Based Small-Scale Property Management

2019 ◽  
Vol 11 (19) ◽  
pp. 5354
Author(s):  
Ingrid Martins Holmberg
Keyword(s):  
Real Estate ◽  
Real Estate Market ◽  
Small Scale ◽  
The Real ◽  
The Real Estate ◽  
Construction Market ◽  
Urban Heritage ◽  
The Real Estate Market ◽  
Set Up ◽  
The Right

This study puts urban heritage in the setting of property owners’ small-scale and resource-based management of ordinary old buildings. This phenomenon indicates a need not only to reconceptualize urban heritage in its actual complex web of negotiations over constraints of the regulation (urban planning, including preservation) and economy (the real estate market) but also to pay attention to the emergence of a new ethos. The case concerns a Swedish second-city context and the specific moment in time: When the 1990s recession had disarmed the real estate market. Based upon ethnographic fieldwork, this study used an assemblage perspective to allow for a following of entanglements of material and matter. The study sheds light upon the emergence of a small-scale and resource-based management in the midst of managerially defined cycles of investment. Important for the output was 1) the set-up of a network of skilled craftsmen, antiquarians, and entrepreneurs ‘of the right mindset that enabled for the authentic material result but that also helped navigate regulation and financial parties, 2) the “alternative market for reverential maintenance and repair” that guaranteed the appropriate supply of materials, products, and skills that differed from the mainstream construction market. For the means of understanding the ethos involved, the study introduced the notion of “factual life-span of buildings”. The overall aim of this article was to contribute to research on heritage urbanism by adding a resource management perspective that focusses on the entanglements of material and matter.

Righteousness or the right to drink? The debate on the ration book in Sweden and Finland during the 1950s

2001 ◽  
Vol 18 (4) ◽  
pp. 359-370
Author(s):  
Matti Peltonen
Keyword(s):  
Control Policy ◽  
Alcohol Policy ◽  
The Political ◽  
Swedish Version ◽  
Alcohol Control ◽  
Political Left ◽  
The 1950S ◽  
Post War ◽  
The Right ◽  
Political Right

Sweden and Finland reviewed their alcohol control policies in the 1950s at more or less the same time. Sweden abolished its ration book system and lifted restrictions on the sale of medium strength beer, Finland in turn revised its mechanisms for controlling the purchase of alcohol, a version of the Bratt system. In Sweden, alcohol consumption increased sharply and the number of drunkenness offences doubled. In Finland, by contrast, nothing happened. Why? History provides one possible source of explanation. The Swedish version of the Bratt system was much stricter (with monthly rations allocated on the basis of social class and sex) and therefore there was greater pressure towards a liberalisation of alcohol policy than was the case in Finland. During the war and in the post-war years Finland had a strong labour movement, which was keen to underline and demonstrate that the working class were in every respect decent and upright people. The debate that was touched off by the General Strike in 1956 is particularly interesting. On the political right, workers were frequently portrayed as heavy drinkers; the political left worked hard to fend off this propaganda attack. In this kind of atmosphere it was impossible to seriously call for a liberalisation of alcohol control policy in Finland.

III. The Loyalist Association Movement of 1792–93 and British Public Opinion

1966 ◽  
Vol 9 (2) ◽  
pp. 179-190 ◽  
Author(s):  
Donald E. Ginter
Keyword(s):  
Public Opinion ◽  
Late Spring ◽  
Careful Examination ◽  
The Political ◽  
Public Prosecution ◽  
Political Left ◽  
The Government ◽  
The Right ◽  
Political Scene

In November 1792 John Reeves, with the explicit approval and active sup-port of both the government and the Windhamite Whigs, and with the countenance of the duke of Portland and his friends, instituted a movement of loyalist associations which quickly spread throughout the country. The movement was founded in reaction to an enthusiastic resurgence of British radical activity which followed the defeat of the combined armies under the duke of Brunswick, and it rallied a now militant conservative sentiment in favour of detecting and suppressing by intimidation and public prosecution all allegedly seditious activities. This crisis in public opinion, which was at once the parent and the offspring of the loyalist association movement, was not the first to have occurred in 1792. An earlier crisis occurred in favour of the political left during the late spring of 1792 and was followed by a relatively mild reaction to the right. It seems clear that, during the earlier months of 1792 at least, there were considerable bodies of both conservative and liberal opinion of various shades in the country. But by the beginning of the following year the complexity and ferment of the political scene had become so great that it is not at all clear to what extent or how rapidly liberal opinion had been supplanted in the country by conservative sentiment. The purpose of this paper is to reassess the nature, effect and significance of the loyalist association movement by undertaking a more careful examination of the phraseology of many of its addresses and declarations as well as of the proceedings and circumstances peculiar to the meetings in which they were approved.

scholarly journals Dialektyka „swój”–„obcy” w prawicowej filozofii politycznej 1789– –1945

2019 ◽  
Vol 41 (2) ◽  
pp. 29-54
Author(s):  
Adam Wielomski
Keyword(s):  
19Th Century ◽  
French Revolution ◽  
Self Determination ◽  
The Political ◽  
Right Wing ◽  
Liberal State ◽  
Political Left ◽  
The Right ◽  
Political Right ◽  
The 19Th Century

DIALECTICS ‘WE’–‘ALIENS’ IN RIGHT-WING POLITICAL PHILOSOPHY 1789–1945 The aim of the author of this text is to polemicize with the stereotype according to which nationalism is a synonym of the “extreme right.” For this purpose the method of historical exemplification was used. Part I of this text is devoted to defining the concept of the “right” and to present the supporters of the French Revolution and other 19th-century revolutions, their idea of nationalism, the nation-state and sovereignty of the nation. This presentation shows that up to 1890 nationalism is located in the revolutionary left. The first nationalists are Jacobins. The counter-revolutionary right is opposed to nationalism. For this right, nationalism is combined with the idea of empowering nations to the rights of self-determination, which is closely connected with the idea of people’s sovereignty. This situation persists until 1870–1914, when the ideas of national sovereignty are implemented in the politics of the modern states. However, the liberal state does not meet the expectations of nationalists, because it neglects the interests of the nation as the highest value. That is the cause for them moving from the political left to the right part of the political scene, replacing the legitimist right. The latter is annihilated with the decline of aristocracy. In the 19th century, the left is nationalistic and xenophobic. We find clear racist sympathies on the left. The political right does not recognize the right of nations to self-determination, the idea of ethnic boundaries. It is cosmopolitan.

scholarly journals CONSTRUCTION COST AND THE GROWTH IN SUPPLY OF REAL ESTATE HOUSING IN KENYA

2016 ◽  
Vol 1 (1) ◽  
pp. 56
Author(s):  
Samuel Mungai Ngugi ◽  
Dr. Lucy Wamugo
Keyword(s):  
Real Estate ◽  
Interest Rates ◽  
Low Income ◽  
Building Materials ◽  
Construction Cost ◽  
Real Estate Market ◽  
Primary Data ◽  
High Interest Rate ◽  
The Real ◽  
The Real Estate

Purpose: The main purpose of this study was to establish the effects of construction cost on the growth in supply of real estate housing in Kenya. Methodology: The study adopted a descriptive research design. The target population was 78 registered real estate companies in Kenya. The sample size was therefore 39 registered real estate companies in Kenya. Primary data was collected through the administration of the questionnairesResults: The study found that finance cost, cost of building materials, cost of land and tax cost have a statistical and negative influence on the growth of supply of real estate housing. The study also concludes that increase in growth of real estate market despite the high interest rate could owe to the price inelastic demand for housing owing to economic disparity in the country. While low income earners, who are majority, are pushed away to less glossy and crowded homes where survival supersedes luxury, the upper middle income purchase of housing units is on the upward spiral.Unique contribution to theory, practice and policy: The study recommended that the government should lower interest expenses so as to encourage the increase in supply of affordable real estate housing. The bank should also lower their interest rates so that the real estate firms can be able to increase the supply of housing. The study also recommends that investors should consider investing in the real estate market despite the erratic interest rates.

scholarly journals The Value of Work and the Future of the Left

2017 ◽  
Vol 4 ◽  
pp. 137
Author(s):  
Campbell Jones
Keyword(s):  
The Political ◽  
Future Of Work ◽  
The Past ◽  
The Future ◽  
Political Left ◽  
Left And Right ◽  
The Right

This paper arises from a request to report to the Future of Work Commission on the question of the value of work in the past, present, and future politics of the Left. This task is complicated, however, by the complexity of the meaning of the terms Left and Right. It is only when we are clear about the meanings of Left and Right that we can be clear about the very different kinds of politics that will result from taking a Left position on work. This paper seeks to clarify what a Left politics of work might look like today. This requires in the first place an analysis of the respective value of work to the political Left and Right, to which end I argue that what distinguishes the Left and the Right regarding the value of work is not simply the quantity of value or dignity that is attributed to work. Rather, Left and Right depart in a fundamental ontological confrontation regarding the nature of what work is and the existence of the bodies from which work issues. This analysis therefore raises deeper questions regarding the very distinction between the Left and the Right.  

Research on the Impacts of Real Estate on Economic Growth: A Theoretical Model-Based Analysis

2018 ◽  
Vol 06 (04) ◽  
pp. 1850025
Author(s):  
Xiaoxi ZHANG ◽  
Lu GUO
Keyword(s):  
Economic Growth ◽  
Real Estate ◽  
Low Income ◽  
Housing Prices ◽  
Well Being ◽  
Real Estate Market ◽  
The Real ◽  
The Real Estate ◽  
Pillar Industry ◽  
The Impact

As the pillar industry of China’s economy, the real estate sector has a significant impact on macroeconomic growth. We assume that the first stage of economic actors’ working lives is a low-income one, while their second stage is a high-income one. Then, relying on an Overlapping-Generations Model, we analyze how, via real estate, the behaviors of different income groups affect the macroeconomy. The results show that when the supply of real estate market fluctuates then this has an impact on economic growth, but the extent of the impact depends on the relationship between the real estate and the consumer markets. We also find that when economic actors more greatly prefer their current situations of well-being, no matter whether there takes place or not a new increase in real estate stocks, a negative correlation will exist in the relation between real estate stocks and their prices. Lastly, we come to the conclusion that increases in property taxes can effectively reduce housing prices, but the impact of transaction taxes on housing prices can still not be determined.

Wiped Out by the Green Wave

2020 ◽  
pp. 49-83
Author(s):  
Melissa Checker
Keyword(s):  
New York ◽  
Real Estate ◽  
Low Income ◽  
Property Values ◽  
Real Estate Market ◽  
The Real Estate ◽  
Communities Of Color ◽  
Public Status ◽  
The Real Estate Market ◽  
Symbolic Value

Situated mainly in New York City’s Harlem neighborhood, this chapter examines “green gentrification”—the correlation between environmental improvements and high-end real estate development. Taking an historic look at urban parks and property values, this chapter begins with nineteenth-century discourses about nature, social uplift, and morality. The symbolic value attached to green space soon correlated with material value, as parks boosted nearby property values. Despite their public status, parks became spaces of subtle racial and class-based exclusion. As sustainability gained popularity in the early 2000s and the real estate market boomed, new green spaces became an amenity that drew affluent residents to gentrifying areas. Environmental justice activists in these neighborhoods thus found that the very improvements for which they had been fighting now facilitated gentrification and threatened to displace low-income residents and communities of color.

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