What to do with vacant and abandoned residential structures? The effects of teardowns and rehabilitations on nearby properties
研究了三种处理废弃住宅的政策（维持现状、修复重建、拆除）对周边房价的影响，发现拆除后重建可提升周边房价14.1%，而空置房会压低房价4.1%，且影响因收入水平而异。
Abstract In the presented paper, we estimate the impacts of three distinct housing policy interventions to deal with distressed and abandoned residential properties: leaving vacant buildings in their current state, remodeling/rebuilding residential structures, and razing vacant structures. We show that vacant structures negatively impact nearby housing up to 4.1%, but when demolition is followed by complete reconstruction, neighboring housing can be appreciated by as much as 14.1%. In addition, negative spillover effects from foreclosures and vacant buildings are primarily observed in low‐income and middle‐income Census tracts, whereas positive spillover effects generated by remodeling are seen in high‐income Census tracts.