Impacts of a French Urban Renewal Program on Local Housing Markets
Résumé
Urban renewal programs have been implemented in many countries to ght housing
decay, poverty concentration, and associated social ills in the last decades. In this paper, we propose
an evaluation of a large-scale urban renewal program launched in France in 2004. Using a novel
estimator aimed at avoiding bias in the estimation of treatment eects heterogeneous across treatment groups or time periods, and complementing its results with a more precise double xed eects
dierence-in-dierences estimator, we nd no signicant eect of the program on housing values and
transaction volume. However, we do nd a signicant impact on the social prole of housing buyers
and sellers: an increased number of upward transitions of housing units, from blue-collar sellers to
intermediate category buyers or from intermediate category sellers to executive buyers, and reduced
housing transactions among executives. Altogether, our ndings suggest a renewed interest of upper
socio-professional categories to invest or keep their property in the renovated neighborhoods.4
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