Housing Markets and the Fiscal Health of US Central Cities
Many American central cities are still recovering from sharp revenue declines during the Great Recession, a collapse in housing prices, and an unprecedented surge in mortgage foreclosures. An investigation of central cities’ economic and fiscal resilience in the wake of these shocks is a prerequisite for crafting policies to ensure cities can provide essential public services and to prepare for future shocks to housing markets and local economies. This event will offer insights from two recent research projects funded by the John D. and Catherine T. MacArthur Foundation that explore the links between shocks to urban housing markets and central cities’ finances.
The forum provides an opportunity for policymakers, budget officers, and others interested in cities’ fiscal health to discuss the relationship between housing and city finances and the role of fiscal policies in weathering future housing market fluctuations. The discussion will include presentations from researchers at the Urban Institute, the Lincoln Institute of Land Policy, and the City University of New York, as well as respondents from the Federal Reserve Bank of New York, the Federal Housing Finance Agency, and municipal budget directors. A list of confirmed speakers can be found here.