Download or read book The non Effect of Opportunity Zones on Housing Prices written by Jiafeng Chen and published by . This book was released on 2019 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Will the Opportunity Zone program, America's largest new place-based policy in decades, generate neighborhood change? We compare single-family housing price growth in Opportunity Zones with price growth in areas that were eligible but not included in the program. We also compare Opportunity Zones to their nearest geographic neighbors. All estimates rule out price impacts greater than 1.3 percentage points with 95% confidence, suggesting that, so far, home buyers don't believe that this subsidy will generate major neighborhood change. Opportunity Zone status reduces prices in areas with little employment, perhaps because buyers think that subsidizing new investment will increase housing supply.
Download or read book Do Opportunity Zones Create Opportunities written by James Alm and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Guide to Making Opportunity Zones Work written by Cohnreznick Llp and published by Independently Published. This book was released on 2020-11-13 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understand the role each stakeholder plays in the Opportunity Zone ecosystem - one that can drive new investment, development, and job creation in left-behind communities across America.The 2017 Tax Cuts and Jobs Act (TCJA) brought to life the first new community development tax incentive in decades. Opportunity Zones (OZs) were created to spur economic development and job creation in distressed communities by offering tax incentives to those who provide new capital investments in these areas.As a growing marketplace takes shape around OZs, there's far more unknown than known about how they can and should be implemented. The rules released by the IRS over the course of 2018 and 2019 are complex and number in the hundreds of pages."The Guide to Making Opportunity Zones Work," co-edited by leading Opportunity Zone advisors Ira Weinstein, who oversees advisory, assurance and tax for stakeholders across the OZ landscape, and Steve Glickman, who helped architect the legislation behind the initiative.Inside you'll find: - Plain-English breakdowns of the various terms, tests, and other rules specific to the world of OZs (with graphics and examples)- Individual chapters offering insights for specific OZ stakeholderso Investorso Fund managerso Real estate developerso Entrepreneurs and business ownerso OZ community leaders- Plus, insights on how these groups fit together, and how they can collaborate to best drive new economic activity in struggling communities across America.Think of this guide as a tutorial that covers the nuts and bolts of OZ investing - one that provides advice and information for each of the key participant groups needed to create and support a healthy OZ ecosystem.
Download or read book A Research Agenda for US Land Use and Planning Law written by John J. Infranca and published by Edward Elgar Publishing. This book was released on 2023-12-11 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: Authoritative and multidisciplinary in approach, this Research Agenda shapes questions that will underpin future legal and empirical scholarly inquiry on zoning and land use regulation in the US. Building on existing debates and providing a comprehensive overview of the current state of academic research, it identifies the gaps which need addressing in future research.
Download or read book JUE Insight written by Matthew Freedman and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Opportunity Zone program, created by the Tax Cuts and Jobs Act in 2017, was designed to encourage investment in distressed communities across the U.S. We examine the early impacts (up to one-and-a-half years after enactment) of the Opportunity Zone program on residents of targeted areas. We leverage restricted-access microdata from the American Community Survey and employ a matching approach to estimate causal reduced-form effects of the program. Our results point to little or no evidence of positive effects of the Opportunity Zone program on the employment, earnings, or poverty of zone residents.
Download or read book JUE Insight written by Matthew Freedman and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Opportunity Zone program, created by the Tax Cuts and Jobs Act in 2017, was designed to encourage investment in distressed communities across the U.S. We examine the early impacts (up to one-and-a-half years after enactment) of the Opportunity Zone program on residents of targeted areas. We leverage restricted-access microdata from the American Community Survey and employ a matching approach to estimate causal reduced-form effects of the program. Our results point to little or no evidence of positive effects of the Opportunity Zone program on the employment, earnings, or poverty of zone residents.
Download or read book Hot Property written by Rob Nijskens and published by Springer. This book was released on 2019-06-14 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house prices to soar and increases the pressure on rental markets. These developments are posing major challenges for policymakers, central banks and other authorities responsible for ensuring financial stability, and economic well-being in general.This volume collects views from high-level policymakers and researchers, providing essential insights into these challenges, their impact on society, the economy and financial stability, and possible policy responses. The respective chapters address issues such as the popularity of cities, the question of a credit-fueled housing bubble, the role of housing supply frictions and potential policy solutions. Given its scope, the book offers a revealing read and valuable guide for everyone involved in practical policymaking for housing markets, mortgage credit and financial stability.
Download or read book Money For Nothing Opportunity Zones and Causal Inference written by Ryan A Kupyn and published by . This book was released on 2021 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Tax Cuts and Jobs Act of 2017 permitted US state governments to designate selected low-income census tracts as "Opportunity Zones." This designation permitted investors in projects located in these "Opportunity Zones" (OZs) to avoid or defer capital gains taxes on their investments. This provision was intended to increase the amount of investment in OZs, raising the incomes of households in designated census tracts. The processes of OZ designation was not uniformly transparent, with some indications areas with significant outside investments already in planned were more likely to receive OZ designations. This situation poses a challenge for traditional causal inference techniques, such as difference-in-differences. In this paper, an alternative set of assumptions are used to evaluate the effect of OZ designation on growth in median household income. These results suggest that the Opportunity Zones program has had a positive effect on income growth in areas that received the Opportunity Zone designation, but highlight the significant uncertainty involved in such an estimate.
Download or read book Income Averaging written by United States. Internal Revenue Service and published by . This book was released on 1985 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impact of Opportunity Zones an Initial Assessment written by Council of Economic Advisers (U.S.) and published by . This book was released on 2020 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Impacts of Opportunity Zones on Zone Residents written by Matthew Freedman and published by . This book was released on 2021 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Low income Housing Tax Credit Handbook written by and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "'Low-Income Housing Tax Credit Handbook' provides definitive guidance through the complex body of laws, regulations, and judicial decisions concerning the low-income housing credit (LIHC)"--
Download or read book The Billionaire Boondoggle written by Pat Garofalo and published by Thomas Dunne Books. This book was released on 2019-03-12 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do our politicians let the entertainment industry and individuals like Donald Trump bilk taxpayers, hijack public policy and hurt economic investment? It is widely believed, that a city in possession of a fortune must be in want of a partner who will drive economic development and thus be worth a substantial dowry of tax abatements, subsidies, and grants. These partners always prove faithless, though, especially when it comes to the entertainment industry. Never date an actor, as they say. From stadiums and movie productions to casinos and mega-malls to convention centers and hotels, cities and states have paid out billions of dollars to the world's corporate titans in an attempt to boost their economies, create new and better jobs, and lure well-known events such as the Olympics and the Super Bowl to within their borders, not to mention give officials a chance to have their pictures taken with celebrities. That Big Entertainment drives bigger economies is a myth, however, one that has nonetheless permeated every facet of policy making despite the overwhelming evidence that it results in a raw deal for the taxpaying public. In The Billionaire Boondoggle, Garofalo takes readers on a tour of publically-subsidized corporate America to explain how that myth came to be, how much money America's elected officials throw away, and why courting Big Entertainment just courts disaster.
Download or read book Investing in what Works for America s Communities written by and published by . This book was released on 2012 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: "'Investing in What Works for America's Communities' is a new book that calls on leaders from the public, private, and nonprofit sectors to build on what we know is working to move the needle on poverty. The book's impressive list of authors represents a broad range of sectors including federal agencies, philanthropy, housing academia, health, and the private sector. This collection of essays provides dozens of innovative ideas that can bring new opportunities to America's struggling communities. It calls on leaders, from the public, private, and nonprofit sectors to recognize that they can work smarter and achieve more by working together."--Book website.
Download or read book The Effects of Housing Prices and Monetary Policy in a Currency Union written by Pau Rabanal and published by International Monetary Fund. This book was released on 2011-01-01 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent boom-and-bust cycle in housing prices has refreshed the debate on the drivers of housing cycles as well as the appropriate policy response. We analyze the case of Spain, where housing prices have soared since it joined the EMU. We present evidence based on a VAR model, and we calibrate a New Keynesian model of a currency area with durable goods to explain it. We find that labor market rigidities provide stronger amplification effects to all type of shocks than financial frictions do. Finally, we show that when the central bank reacts to house prices, the non-durable sector suffers an important contraction. As a result, the boom-and-bust cycle would not have been avoided if Spain had remained outside the EMU during the 1996-2007 period.
Download or read book Only the Rich Can Play How a Billionaire Sold Washington a Bonanza for the Wealthy as a Way to Help the Poor written by David Wessel and published by Public Affairs. This book was released on 2021-10-05 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a Winners Take All meets This Town narrative, a New York Times bestselling author tells the story of the creation of a massive tax break, in which political and economic elites attend to the care and feeding of the super-rich, and inequality compounds. David Wessel's incredible tale of how Washington works-and why the rich keep getting richer-starts when a Silicon Valley entrepreneur concocts an idea that will save money on his taxes and spins it as a way to ostensibly help poor people. He organizes and pays for an effective lobbying effort that pushes his idea into law with little scrutiny or fine-tuning by congressional or Treasury tax experts-and few safeguards against abuse. With an unbeatable pair of high-profile sponsors, bumper-sticker simplicity and deft political marketing, the Opportunity Zone became an unnoticed part of the 2017 Trump tax bill. The gold rush followed immediately thereafter. David Wessel follows the money to see who profited from this plan that was supposed to spur development of blighted areas and help people out of poverty: the Mandalay Bay Hotel in Las Vegas, the Portland (Oregon) Ritz-Carlton, the Mall of America, and self-storage facilities-lucrative areas where the one percent can park money profitably and avoid capital gains taxes. And the best part: unlike other provisions for eliminating capital gains taxes (inheritance, for example) you don't have to die to take advantage of this one. Wessel provides vivid portraits of the proselytizers, political influencers, motivational speakers, consultants, real estate dealmakers, and individual money-seekers looking to take advantage of this twenty-first century bonanza. He looks at places for which Opportunity Zones were supposedly designed (Baltimore, for example) and how little money they've drawn. And he finds a couple of places (Erie, PA) where zones are actually doing what they were supposed to, a lesson on how a better designed program might have helped more left-behind places. Readers will feel outraged as Wessel gives us the gritty reality, the dark underbelly of a system tilted in favor of the few, with the many left out in the cold.
Download or read book The Impact of Opportunity Zones on Commercial Investment and Economic Activity written by Kevin Corinth and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A provision of the Tax Cuts and Jobs Act of 2017 offered tax incentives for investing in certain low-income areas in the United States called Opportunity Zones (OZs). The goal of this provision was to spur private investment in OZs in order to improve the economic well-being of their residents. This paper uses a regression discontinuity design to evaluate the impact of OZs on commercial investment and economic activity. Using data on the universe of all significant commercial investments in the United States, we find that OZ selection led to practically no increase in investment in OZs. These findings are supported by additional data from Mastercard that also show no evidence of increased business activity nor consumer spending. Overall, our findings suggest that the impact of OZs on economic improvement has thus far been limited.
