Does LowIncome Housing Affect Property Values

first_img The deep-set worry that low-income housing has a deleterious effect on the values of other properties appears to have little basis in reality. According to a new study by Trulia of the country’s 20 least affordable housing markets, low-income housing built during a 10-year span shows no effect on nearby home values.Trulia reported Wednesday that resistance to affordable housing development has surfaced in places like San Francisco, New York, and Seattle, where low-inventory and high competition has sparked worries about affordable development. But the firm’s analysis of more than 3,000 low-income housing projects built between 1996 to 2006 “found no significant effect on home values located near a low-income housing project, with a few exceptions.”Boston and Cambridge, Massachusetts, were two exceptions. Low-income housing projects there had a negative effect on nearby homes in terms of price per square foot‒‒a drop of $18 to $19 per square foot, “suggesting a region-specific market effect for these two geographically adjacent metros,” Trulia reported. But the reason could be too-much-too-fast.“Concentrating subsidized housing projects in particular areas such as Roxbury and Dorchester in Boston, or Cambridgeport in Cambridge in a short time period, for example, might have the effect of crowding out other development activity,” the report stated.In almost all other markets, low-income housing seems to have had no effect either way. Denver, in fact, was the only metro where low-cost housing actually benefited other homes.One reason for this could be that parts of downtown Denver around where low-income housing projects were built saw a renaissance in the 1990s, driven by the development of the lower downtown area and the construction of Coors Field.“Some of these neighborhoods in downtown Denver are now the most sought real estate in the metro area,” the report stated. “Indeed, neighborhoods such as the Central Business District and Five Points, where low-income housing projects were concentrated in our study period, outperformed greater Denver in terms of home values per square foot.”The important thing to remember, Trulia reported, is that apart from these two wildly disparate examples, the overall truth is that low-cost housing doesn’t affect real estate markets much.“These are exceptions to the finding that low-income housing projects largely have no effect on home values,” the report stated. “The bottom line for NIMBYs who fear that property values will take a hit when a low-income housing project locates nearby is that their anxiety is largely unfounded‒‒at least in cities where housing is either expensive or in short supply.”Click here to view Trulia’s complete report. in Daily Dose, Data, Headlines, News November 16, 2016 846 Views Does Low-Income Housing Affect Property Values?center_img Share Low-Income Housing Property Values 2016-11-16 ScottMorgan1last_img read more

Earlier in the week Virtuoso recognised 20 except

first_imgEarlier in the week, Virtuoso recognised 20 exceptional destination, cruise and lifestyle partners, as well as an outstanding advisor for her participation in Virtuoso’s Communities initiative at this week’s Virtuoso Travel Week.The awards recognise partners that shape products to match the needs of Virtuoso member agencies, providing a superlative client experience and strong support of the travel advisor community.Winners were revealed at three events during the 30th annual Virtuoso Travel Week event, taking place this week at Bellagio Resort & Casino, ARIA Resort & Casino and Vdara Hotel & Spa in Las Vegas.Ten awards were distributed at the Destination Showcase dinner on 13 August at Bellagio, commemorating partners that provide remarkable experiences to Virtuoso clients and superior service to its advisors:Best Curated Travel Partner: Wilderness SafarisBest Escorted Tour Partner: TauckDestinations & Experiences Ambassador of the Year: Andrea Grisdale – IC BellagioDestinations & Experiences Partner of the Year: andBeyondBest Multi-Generational Program – Cruise: Royal Caribbean InternationalBest Culinary Experience – Cruise: Oceania CruisesMost Luxurious Guest Experience – Cruise: Crystal CruisesBest Virtuoso Voyages Experience: Barcelona by Made for Spain and PortugalBest River Cruise Line: AmaWaterwaysTourism Board of the Year: Switzerland TourismThe Community Awards were given to one advisor and one partner involved with one or more of Virtuoso’s four specialty niches: adventure, cruise, wellness and family. The winners, presented 11 August at ARIA, were:Most Engaged Community Member: Alicia Diez – Valerie Wilson Travel, Inc.Most Engaged Community Partner: Micato SafarisThe Alliance Partner Awards were presented on 12 August at a luncheon at Bellagio to outstanding preferred destinations and lifestyle suppliers:Most Engaged – North America: Tourism Authority of ThailandMost Engaged – Global: Los Cabos Tourism BoardMost Innovative Alliances Partner: USA Luxury Shopping ConsortiumMost Comprehensive Advisor Program: Tourism AustraliaHottest Destination of the Year: Portuguese National Tourist OfficeTop Destination of the Year: German National Tourist OfficeAmbassador of the Year: Petra Roach, Barbados Tourism Marketing Inc.Most Innovative Lifestyle Partner: Galeries LafayetteHonorary Recognition – Virtuoso Travel Dreams Tournament Champion: PromPeruGo back to the enewsletter Go back to the enewsletterVirtuoso Chairman & CEO Matthew D UpchurchGlobal luxury travel network, Virtuoso, is expanding its travel communities in 2019, Chairman and CEO Matthew D. Upchurch revealed to participants at the Virtuoso Travel Week in Las Vegas.The group’s community already comprises four separate arms: Virtuoso Adventure Travel, Virtuoso Wellness Travel, Virtuoso Voyages and Virtuoso Family Travel. Those communities are supported by preferred suppliers in each category and have attracted over 2,300 advisors to four communities. Upchurch announced that stable would expand next year to include Virtuoso Culinary Travel and Virtuoso Ultraluxe Travel.The network itself has grown to include member agencies in 50 countries, with over 1,000 agency locations and 17,500 advisors worldwide. In the past 12 months, Virtuoso has increased its ranks by more than 200 member locations, at the same time expanding to Turkey, Monaco and Uruguay.Travel advisor annual sales have surpassed US$23.7 billion, up 12% from the previous year, making the network an even bigger powerhouse in luxury travel. And the future looks promising, with reported sales indicating that cruise sales are up 15%, ground operator bookings are up 14% and tour sales have climbed by 9% year-on-year.This afternoon, Virtuoso held the 12th Annual Virtuoso Hotels & Resorts Awards Dinner, chosen by travel agency partners and professional travel advisors. The winners included:Virtuoso Hotel of the Year: Adare Manor, Limerick, IrelandVirtuoso Hotelier of the Year: Patrizio Cipollini, Four Seasons Hotel FirenzeBest Virtuoso Hotel Ambassador: Andrea Filippi, BelmondBest Virtuoso Newcomer: Hôtel de Crillon, A Rosewood HotelBest Virtuoso Wellness Program: BodyHoliday Saint LuciaBest Virtuoso Family Program: The Ranch at Rock CreekBest Virtuoso Dining Experience: Meadowood Napa Valley – The RestaurantBest Virtuoso Bar: Brown’s Hotel, A Rocco Forte Hotel – The Donovan BarBest Virtuoso Achievement in Design: The Silo Hotel, Cape TownVirtuoso Award for Sustainable Tourism Leadership – Hotel: Six Senses Douro Valleylast_img read more