Real Estate Commons^™

The Safest Suburbs In The Mountain West, 2023, Ivan Sun, Zachary Billot, Caitlin J. Saladino, William E. Brown Jr.

Cities & Metros

This fact sheet presents data from the Smart Asset report, “America’s Safest Suburbs – 2023 Study,” which examines the 370 safest suburbs in the United States and the 35 most affordable safest suburbs. This fact sheet focuses on data for the nine safest suburbs and most affordable safe suburbs in the Mountain West states of Arizona, Colorado, Nevada, and Utah ranking among the top 100 safest suburbs in the United States.

Priced Out Of Housing In The Mountain West, 2022, Maryam Raja, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet presents data from the National Association of Home Builder (NAHB) 2022 report on "priced out estimates" and the consequences of increased prices and interest rates on homes. Data are included from NAHB on home affordability for median home prices in five Mountain West states and 25 metropolitan statistical areas (MSAs).

The Shrinking Geography Of Housing Opportunity In Mountain West Metros, 2022, Hira Ahmed, Joshua Padilla, Saha Salahi, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet examines data from the National Equity Atlas on the changing geography of opportunity across Mountain West metros. The original report includes data on the largest 100 metros in the United States. This fact sheet reports on the overall percentages of affordable zip codes in nine major metropolitan areas in the Mountain West and changes in affordable zip codes for Black, Latinx, and white households in Mountain West metros from 2013 to 2019. Data for nine Mountain West metros are included: Tucson, AZ; Phoenix-Mesa-Scottsdale, AZ; Colorado Springs, CO; Denver-Aurora, CO; Albuquerque, NM; Las Vegas-Paradise, NV; Ogden-Clearfield, UT; Provo-Orem, …

A Model Of Build Back Better Utilization: Long-Term Recovery Groups And Post-Disaster Housing Recovery, Eduardo Landaeta, Jesse Richman

Political Science & Geography Faculty Publications

Housing recovery, especially for vulnerable populations, can be a challenging process. Questions regarding whether to rebuild damaged housing and whether to restore it to its previous state or to build back better must be answered. In the United States, Long-Term Recovery Groups (LTRGs) play a crucial role in channeling assistance to vulnerable community members as they embark on housing recovery. However, the experiences of LTRGs have been understudied. To address this gap, the study utilizes interviews with a diverse range of LTRG members and develops an agent-based model following the Overview, Design concepts, and Details (ODD) protocol. The results highlight …

Manufactured Homes In Nevada Counties, Joshua Padilla, Annie Vong, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet presents data on the share of manufactured homes in each of Nevada’s 17 counties, as reported in the June 2022 The Daily Yonder article, “With Housing Shortage Still Ongoing, Manufactured Homes are Gaining Ground,” by Kristi Eaton. The original report includes data made available by the Housing Assistance Council (HAC) for each county in the United States from 2009 and 2018.

Acreage Of Foreign Owned Farmland In The Mountain West, 2020, Geneva Martin, Saha Salahi, Zachary Billot, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet examines foreign-owned farmland in the Mountain West states of Arizona, Colorado, Nevada, New Mexico, and Utah, as originally reported by the United States Department of Agriculture’s (USDA) Farm Service Agency.

Housing Availability In Nevada, 2017-2022, Annie Vong, Olivia K. Cheche, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet examines data on housing availability across nine Nevada counties from 2017 to 2022. Eight Nevada counties are not represented in this fact sheet due to a lack of data in the original report. The original report by MarketWatch analyzes housing inventory from 2017 to 2022 and median list prices in 2022 across counties in the United States.

Shortage Of Affordable Rental Homes In The Mountain West, Joshua Padilla, Kelliann Beavers, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet examines data from the 2022 report by the National Low Income Housing Coalition (NLIHC), “The Gap: A Shortage of Affordable Homes” for the Mountain West region. The original report includes data from 2016- 2020 American Community Survey (ACS) Public Use Microdata Sample (PUMS) to help “determine the availability of rental homes affordable to extremely low-income households.”

Best Cities For Affordable Homeownership In The Mountain West, Kelliann Beavers, Olivia K. Cheche, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet highlights data on the best cities for affordable homeownership in the Mountain West, based on the SmartAsset report, “Best Cities to Buy an Affordable Family Home – 2021 Edition.” The report is SmartAsset’s second annual study, following the 2020 report, and includes data on 100 of the largest cities in the United States. This fact sheet highlights the rank, index, down payment-to-income ratio, housing costs as a percent of income, and four-year change in homeownership rate within each of the 15 Mountain West cities included in the original report.

Housing Affordability For Top Occupations In Nevada Metros, 2022, Kristian Thymianos, Elia Del Carmen Solano-Patricio, Ally M. Beckwith, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet combines housing and employment data from the National Housing Conference (NHC) and the Bureau of Labor Statistics (BLS) to examine housing affordability for the 10 most common occupations in the Las Vegas-Henderson-Paradise, NV and the Reno-Sparks, NV metropolitan statistical areas (MSAs) in Quarter 1 of 2022.

Top Boomtowns In The Mountain West, Ally M. Beckwith, Caitlin J. Saladino, William E. Brown Jr.

Cities & Metros

This fact sheet highlights data on the top boomtowns in the Mountain West region in 2019 and 2021. The original SmartAsset report includes data on the rapid economic growth and prosperity in boomtown cities through new employment opportunities and residents.

Housing Affordability Index: Mountain West Cities, November 2021, Olivia K. Cheche, Joshua Padilla, William E. Brown Jr.

Housing & Real Estate

This fact sheet highlights data on the median household income, median home price, estimated monthly mortgage and taxes, and share of income used for homeownership in fifteen Mountain West housing markets, as originally outlined in the “RealtyHop Housing Affordability Index: November 2021” report. The RealtyHop report analyzes the affordability of housing markets for the 100 most populous cities in the United States.

How Did Homelessness Change During The Great Recession And Recovery?, Jenny Schuetz, Matthew Ring

Policy Briefs and Reports

Job losses from the COVID-19 pandemic have exacerbated housing insecurity among low-income renters over the past year. Federal, state, and local policymakers have created temporary measures to help reduce displacement among people who have lost their jobs, but there is considerable uncertainty about what will happen when these temporary measures end. To gain insight into how homelessness changes over macroeconomic cycles, we examine changes in homelessness rates from 2007 to 2020. Our analysis focuses on four metro areas that were particularly hard-hit by the foreclosure crisis: Las Vegas, Los Angeles, Phoenix, and Riverside. Overall homelessness rates declined in all metros …

Housing Confidence In The Mountain West, Emmanuel A. Berrelleza, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet explores housing metrics in the Las Vegas, Denver, and Phoenix metropolitan areas, as originally reported in the Pulsenomics report, “Renter Confidence Dashboard." Market conditions, expectations, and homeownership aspirations are some of the key factors in assessing the livelihood of housing and real estate in metropolitan areas. These factors are presented with a comparison between all generations and millennials.

America's Best Small Cities In The Mountain West, Katie M. Gilbertson, Kelliann Beavers, Caitlin J. Saladino, William E. Brown Jr., Fatma Nasoz

Cities & Metros

This fact sheet reports the rankings of small cities in the Mountain West, based on perceived desirability for living, visiting, and investment. Resonance Consultancy’s “America’s Best Small Cities 2020,” report examines six key metrics: “People,” “Place,” “Product,” “Programming,” “Promotion,” and “Prosperity.” 11 small cities in the Mountain West are ranked within the top 100 in the United States.

The Housing Market And The Covid-19 Pandemic: Implications For Las Vegas, Phoenix, Riverside, Los Angeles, Orlando, And New Orleans, Jenny Schuetz, Sarah Crump

Policy Briefs and Reports

The COVID-19 pandemic has disrupted virtually every part of the U.S. economy in the past year, and wreaked havoc on people’s daily lives. Housing markets are no exception. Millions of renters have fallen behind on their rent, fearing eviction while accumulating debts they cannot pay. At the same time, prices for owner-occupied housing have soared while the inventory of for-sale homes has plummeted. In this brief, we analyze several measures of housing distress from 2007 to 2019 for six metro areas, chosen based on their housing and labor market characteristics. Los Angeles, Riverside, Las Vegas, and Phoenix were among the …

House Price Changes In The Mountain West, 1991-2020, Katie M. Gilbertson, Kristian Thymianos, Eshaan Vakil, Caitlin Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet measures the average price change in single-family house prices in Mountain West states and metropolitan areas. This fact sheet utilizes data from the Federal Housing Finance Agency's (FHFA) House Price Index (HPI) tool to show quarterly and yearly trends as far back as 1991 to 2020.

The Costs Of Critical Habitat Or Owl’S Well That Ends Well, Jonathan Klick, J.B. Ruhl

All Faculty Scholarship

When the Fish and Wildlife Service designated land in four counties of Arizona as “critical habitat” necessary for the protection of the endangered cactus ferruginous pygmy‐owl, property values dropped considerably. When the owl was later delisted, property values jumped back up. We use difference-in-difference and synthetic control designs to identify this effect with Zillow property value data. The results provide an estimate of the costs of this critical habitat designation, and they are considerable, contrary to the regulators’ position that critical habitat protection imposes no incremental costs beyond the original endangered species listing.

Land Use In Nevada: Counties And The Bureau Of Land Management (Blm), Elia Del Carmen Solano-Patricio, Kelliann Beavers, Caitlin J. Saladino, William E. Brown Jr.

Environment

This Fact Sheet compares land ownership in the State of Nevada, and its 17 counties. Drawn from an original report by Headwaters Economics, the figures and tables that follow provide each jurisdiction’s total land acreage, 2019 population estimates, and a breakdown of land ownership categories, including: private lands, federal lands, state lands, tribal lands, and land owned by cities, counties, or other jurisdictions.

Covid-19: Housing Hardship Index, Yanneli Llamas, Madison Frazee-Bench, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet highlights the impact of the COVID-19 pandemic on May 2020 unemployment rates and mortgage delinquencies in the Mountain West: Arizona, Colorado, Nevada, New Mexico, and Utah. This synthesis is based on nationwide data originally reported by Bankrate senior mortgage reporter Jeff Ostrowski in “Housing Hardship Index: Coronavirus crushes some state economies, spares others.”

Housing Affordability In Nevada Recreation Counties, Yanneli Llamas, Vanessa Booth, Peter Grema, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

Using 2019 data from the Bureau of Economic Analysis and the U.S. Census Bureau’s American Community Survey, this Fact Sheet highlights housing affordability in Nevada’s four recreation counties: Clark, Douglas, Elko, and Washoe. This synthesis is based on a published, national study by Dr. Megan Lawson of Headwaters Economics titled, “Housing in recreation-dependent counties is less affordable.”

Incentives For Information Provision: Energy Efficiency In The Spanish Rental Market, Xueying Bian, Natalia Fabra

Research Collection Lee Kong Chian School Of Business

In this paper we build a search model with asymmetric information regarding houses' energy efficiency. The objective is to shed light on the house owners' incentives to disclose energy certificates (ECs) in the rental market. Such incentives depend not only on the rent premium for more efficient houses - as previously documented - but also on the implicit rent penalty for unlabeled houses. Interestingly, we show that such a penalty is higher the greater the disclosure rate of ECs in the local market. This suggests that the enforcement of the EC regulation should be more stringent during the early phases, …

Covid-19: Metro Recovery Index In The Mountain West, Vanessa Booth, Katie M. Gilbertson, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

Amid the COVID-19 pandemic and the economic recession that is developing as a result, researchers at the Brookings Institution created the “Metro Recovery Index dashboard,” an interactive data set that tracks changes in labor, real estate, and other economic indicators for metropolitan areas throughout the U.S. Using data from January – June 2020, this Fact Sheets highlights the impact of the COVID-19 recession on 13 Metropolitan Statistical Areas (MSAs) in 5 Mountain West states: Arizona, Colorado, Nevada, New Mexico, and Utah.

Neighborhood Change In Las Vegas, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This Fact Sheet analyzes indicators of demographic and economic change in Las Vegas neighborhoods and suburbs, provided by “American Neighborhood Change in the 21st Century,” a study published by the Institute on Metropolitan Opportunity (IMO) at the Minnesota Law School. Researchers reviewed data from the 2000 U.S. Census and the 2016 American Community Survey (ACS) for the top 50 largest metros in the U.S. The study reports levels of neighborhood change, including economic growth, poverty concentration, gentrification, and low-income displacement. Data pertaining to the Las Vegas metropolitan region are synthesized to measure indicators of economic viability and housing availability.

Toxic Structures: Speculation And Lead Exposure In Detroit's Single-Family Rental Market, Alexa Eisenberg, Eric Seymour, Alex B. Hill, Joshua Akers

Urban Studies and Planning Faculty Research Publications

Foreclosure sales permitted investors to purchase large volumes of low-cost residential properties after the last financial crisis, reshaping patterns of property ownership in low-income housing markets across the US. This study links post-foreclosure property acquisitions by investor-landlords to subsequent lead poisoning cases among children under age six living in Detroit, Michigan. We find that the odds of exhibiting elevated blood lead levels (≥ 5 μg/dL) are higher for children living in investor-owned homes purchased through tax foreclosure sale. These findings highlight the potential for property speculation in post-foreclosure housing markets to exacerbate severe and racialized burdens of excess lead toxicity …

A Data-Driven Analysis On The Impact Of High-Speed Rails On Land Prices In Taiwan, Joyce M. W. Low, Byung Kwon Lee

Research Collection Lee Kong Chian School Of Business

High-speed rail (HSR) networks boost inter-city accessibility across a country and stimulate economic growth in inner cities. These economic gains, however, can often be accompanied by sharp increases in land and property prices along the lines that raise governmental concerns. This study examined the effect of the introduction of HSR on land prices in Taiwan and how the extent of such an effect varied with the stages of economic, societal, and infrastructural developments in different cities in Taiwan. Based on extensive published data, an empirical study was conducted using an integrated methodology comprising system dynamics, multivariate regression, and principal component …

Immigrant Residency & Homeownership In Nevada, Kaylie Pattni, Ember Smith, Caitlin Saladino, William E. Brown

Housing & Real Estate

This fact sheet provides immigrant housing data in Nevada from The New American Economy’s dataset, which is part of a larger project to investigate how immigration impacts the U.S. economy. This fact sheet also draws upon rankings constructed by Lending Tree in order to provide national context.

Housing - Las Vegas And The Middle Class, Brookings Mountain West

Brookings Mountain West Special Events

Brookings Mountain West presents an event focusing on housing as part of “Las Vegas and the Middle Class,” a major project exploring public policy initiatives designed to improve the quality of life of the middle class in Las Vegas and to increase the number of people rising to join its ranks. Through independent, non-partisan analysis and policy development, we seek to advance public understanding of the challenges facing the middle class in Las Vegas, as well as barriers to upward mobility.

This event features presentations that examine Las Vegas as a model for understanding issues critical to the growth of …

Should Las Vegas Bet On Homeownership? Trends In Housing Affordability And Homeownership, Jenny Schuetz

Brookings Mountain West Publications

In many parts of the U.S., rents and housing prices are rising faster than household incomes. Low-income families have always been stretched to pay for housing without sacrificing other necessities. In recent years, housing costs have become a larger source of financial stress for middle-income families. While homeownership has been the primary channel for wealth building in the U.S., two recent trends raise questions about whether this is a viable strategy. First, many homeowners suffered severe financial losses due to housing price declines during the Great Recession (2007-2009). Second, homeownership rates for Black and Latino families lag those of white …

The Mountain West: Affordable Housing Opportunities, Kaylie Pattni, Caitlin Saladino, William E. Brown

Housing & Real Estate

This fact sheet provides selected data pertaining to the Mountain West region from, The Gap: A Shortage of Affordable Homes, a 2018 report by the National Low Income Housing Coalition. The report includes statistics “based on data from the 2016 American Community Survey (ACS) Public Use Microdata Sample (PUMS). THE ACS is an annual nationwide survey of approximately 3.5 million addresses.”