Preface |
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xiii | |
Foreword |
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xvii | |
Acknowledgments |
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xxiii | |
Author Biographies |
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xxv | |
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xxix | |
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xxxv | |
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1 Introduction: Community-Based Organizations, Neighborhood-Level Development, and Decision Modeling |
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1 | (26) |
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1.1 Challenges and Opportunities for Housing and Community Development in the US |
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1 | (5) |
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1.2 Community Development in the United States |
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6 | (3) |
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1.3 Big Data, Analytics and Community Development |
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9 | (2) |
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1.4 The Foreclosure Crisis: Problem, Impacts, and Responses |
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11 | (2) |
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1.5 Community-Based Operations Research: A Novel Approach to Support Local Development |
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13 | (6) |
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19 | (2) |
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21 | (3) |
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24 | (3) |
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SECTION 1 POLICY AND PRACTICE IN FORECLOSED HOUSING AND COMMUNITY DEVELOPMENT |
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27 | (80) |
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2 Foreclosed Housing Crisis and Policy and Planning Responses |
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29 | (16) |
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2.1 Roots of the Foreclosed Housing Crisis |
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29 | (3) |
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2.2 Impacts of the Crisis |
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32 | (7) |
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33 | (1) |
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2.2.2 Home Equity and Wealth |
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34 | (2) |
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2.2.3 Health, Education, and Household Mobility |
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36 | (1) |
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2.2.4 Disamenities and Spillover Effects |
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37 | (1) |
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2.2.5 Market-Level Consequences |
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38 | (1) |
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2.3 Responses to the Crisis |
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39 | (2) |
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2.4 Effectiveness of Foreclosure Responses |
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41 | (2) |
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2.5 Opportunities for Decision Modeling Responses to the Foreclosed Housing Crisis |
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43 | (2) |
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3 Community Partners and Neighborhood Characteristics |
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45 | (30) |
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45 | (1) |
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46 | (3) |
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3.2.1 Data Gathering Summary |
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46 | (1) |
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47 | (1) |
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48 | (1) |
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49 | (1) |
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3.4 Case 1: The Neighborhood Developers |
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50 | (9) |
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3.4.1 Organization Type and Mission |
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50 | (5) |
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3.4.2 Organization Service Area and Population |
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55 | (1) |
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3.4.3 Organization Engagement with Foreclosure Crisis |
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55 | (3) |
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3.4.4 Organization Technical Capacity and Familiarity with Project's Analytic Methods |
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58 | (1) |
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3.5 Case 2: Coalition for a Better Acre |
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59 | (4) |
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3.5.1 Organization Type and Mission |
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59 | (1) |
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3.5.2 Organization Service Area and Population Demographics |
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59 | (2) |
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3.5.3 Organization Engagement with Foreclosure Crisis |
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61 | (1) |
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3.5.4 Organization Technical Capacity and Familiarity with Project's Analytic Methods |
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62 | (1) |
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3.6 Case 3: Codman Square Neighborhood Development Corporation |
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63 | (4) |
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3.6.1 Organization Type and Mission |
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63 | (1) |
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3.6.2 Organization Service Area and Population Demographics |
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63 | (1) |
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3.6.3 Organization Engagement with Foreclosure Crisis |
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64 | (3) |
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3.6.4 Organization Technical Capacity and Familiarity with Project's Analytic Methods |
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67 | (1) |
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3.7 Case 4: Twin Cities Community Development Corporation |
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67 | (4) |
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3.7.1 Organization Type and Mission |
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67 | (1) |
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3.7.2 Organization Service Area and Population Demographics |
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68 | (1) |
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3.7.3 Organization Engagement with Foreclosure Crisis |
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68 | (2) |
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3.7.4 Organization Technical Capacity and Familiarity with Project's Analytic Methods |
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70 | (1) |
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3.8 Case Contrast and Discussion |
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71 | (3) |
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3.8.1 Role of Community Partners |
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71 | (2) |
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3.8.2 Adaptation of Case Study Theory for Our Project |
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73 | (1) |
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74 | (1) |
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4 Analytic Approaches to Foreclosure Decision Modeling |
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75 | (32) |
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75 | (6) |
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4.2 Analysis of Community Partners and their Service Areas |
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81 | (13) |
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4.3 Localized Foreclosure Response |
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94 | (3) |
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4.4 Opportunities for Research-Based Analytic Responses to Foreclosures |
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97 | (5) |
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4.5 Solution Design for Community Development using Community-Based Operations Research |
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102 | (2) |
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4.6 Where Do We Go From Here? |
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104 | (3) |
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SECTION 2 VALUES, METRICS AND IMPACTS FOR DECISION MODELING |
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107 | (98) |
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5 Value-Focused Thinking: Defining, Structuring and Using CDC Objectives in Decision Making |
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109 | (44) |
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109 | (9) |
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109 | (1) |
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5.1.2 Values and Objectives in Decisions |
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109 | (1) |
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5.1.3 Values and Objectives in Community-Based Organization/CDC Decisions |
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110 | (1) |
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5.1.4 Utility Functions and Decision Making |
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111 | (1) |
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5.1.5 Multiattribute Utility Functions |
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112 | (2) |
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5.1.6 Value-Focused Thinking |
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114 | (1) |
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5.1.7 VFT as Soft OR and Problem Structuring Method |
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115 | (1) |
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5.1.8 The Resource Allocation Decision Frame |
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115 | (3) |
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118 | (1) |
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118 | (5) |
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5.2.1 Linear Additive Assumption |
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118 | (1) |
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5.2.2 Denning the Mathematical Model as a Set of Linear Equations |
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119 | (1) |
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120 | (2) |
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122 | (1) |
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123 | (20) |
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123 | (7) |
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5.3.2 Codman Square Neighborhood Development Corporation |
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130 | (8) |
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5.3.3 Twin Cities Community Development Corporation |
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138 | (5) |
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5.4 Common and Contingent Objectives for CDCs |
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143 | (8) |
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5.5 Lessons for Applying VFT to CBOs |
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151 | (2) |
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6 Characteristics of Acquisition Opportunities: Strategic Value |
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153 | (22) |
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153 | (2) |
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155 | (4) |
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155 | (2) |
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6.2.2 Theoretical Foundations |
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157 | (2) |
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159 | (3) |
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159 | (1) |
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6.3.2 Parameters and Functions |
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160 | (1) |
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6.3.3 Individual Resident Frame |
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160 | (1) |
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161 | (1) |
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6.4 Case Study: The Neighborhood Developers |
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162 | (8) |
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162 | (4) |
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166 | (4) |
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170 | (2) |
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170 | (1) |
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6.5.2 Implications for Modeling and Practice |
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171 | (1) |
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172 | (3) |
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7 Characteristics of Acquisition Opportunities: Property Value |
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175 | (30) |
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175 | (1) |
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7.2 Property Value Changes as a Social Impact of Foreclosed Housing |
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176 | (2) |
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7.3 A Model of PVI for Foreclosed Housing |
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178 | (2) |
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180 | (6) |
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7.4.1 The Foreclosure Process |
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181 | (1) |
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7.4.2 Modeling Foreclosure Phase Transitions with a Markov Chain |
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182 | (2) |
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7.4.3 Estimation of Proximate Property Value Impacts |
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184 | (2) |
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7.5 Case Study: The Neighborhood Developers |
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186 | (10) |
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7.5.1 Data and Model Specifications |
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186 | (4) |
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7.5.2 Computational Results |
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190 | (1) |
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191 | (5) |
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196 | (3) |
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7.7 Model Validity and Limitations |
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199 | (3) |
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7.7.1 Nonlinearities in Aggregate Impacts |
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199 | (1) |
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7.7.2 Representativeness of Data Sources |
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200 | (1) |
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7.7.3 Sensitivity to Transition Probabilities |
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200 | (1) |
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7.7.4 Impacts of Multiple Foreclosures |
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200 | (1) |
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7.7.5 Wider Range of Social Impacts |
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201 | (1) |
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201 | (1) |
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202 | (3) |
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SECTION 3 PRESCRIPTIVE ANALYSIS AND FINDINGS |
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205 | (118) |
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8 Social Benefits of Decision Modeling for Property Acquisition |
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207 | (40) |
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207 | (2) |
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8.2 CDC Practice in Foreclosed Housing Acquisition |
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209 | (3) |
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8.3 A Multiobjective Model of Foreclosed Housing Acquisition |
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212 | (8) |
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212 | (3) |
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215 | (5) |
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220 | (23) |
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8.4.1 Constraint on Number of Units Acquired |
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221 | (12) |
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233 | (10) |
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243 | (1) |
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8.6 Conclusion and Next Steps |
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244 | (3) |
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9 Acquiring And Managing A Portfolio Of Properties |
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247 | (26) |
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247 | (1) |
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9.2 Dynamic Modeling of the Foreclosed Housing Acquisition Process |
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248 | (3) |
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251 | (2) |
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9.4 Policy Analysis Under Different Fund Accessibility Cases |
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253 | (6) |
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9.4.1 Acquisition Policies Under No Fund Expiration |
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253 | (4) |
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9.4.2 Acquisition Policies Under Fund Expiration |
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257 | (2) |
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9.5 Case Study: Codman Square Neighborhood Development Corporation |
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259 | (10) |
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260 | (1) |
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9.5.2 Implementation Under No Fund Expiration |
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261 | (4) |
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9.5.3 Implementation Under Fund Expiration |
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265 | (4) |
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269 | (4) |
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10 Strategic Acquisition Investments Across Neighborhoods |
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273 | (34) |
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273 | (2) |
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10.2 General Framework of FHAP |
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275 | (1) |
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276 | (13) |
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10.3.1 Methodology Overview |
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276 | (1) |
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10.3.2 FHAP with Simple Resource Allocation |
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277 | (5) |
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10.3.3 FHAP with Gradual Uncertainty Resolution |
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282 | (4) |
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10.3.4 Model Variations and Extensions |
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286 | (3) |
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10.4 Case Study: Codman Square Neighborhood Development Corporation |
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289 | (15) |
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10.4.1 Data Description and Parameter Justification |
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289 | (3) |
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10.4.2 Resource Allocations and Impacts of Model Parameters |
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292 | (11) |
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10.4.3 Policy Implications for CDCs |
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303 | (1) |
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304 | (3) |
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11 Conclusion: Findings and Opportunities in Decision Analytics for Foreclosure Response and Community Development |
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307 | (16) |
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307 | (1) |
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308 | (4) |
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11.2.1 Foreclosure Crisis and Responses |
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308 | (1) |
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11.2.2 Engagement with Community-Based Organizations |
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308 | (1) |
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11.2.3 Decision-Modeling Fundamentals: Values and Attributes |
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309 | (1) |
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11.2.4 Foreclosed Property Strategy Design Using Decision Models |
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310 | (2) |
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312 | (2) |
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314 | (2) |
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11.5 Community-Based Operations Research: A Reassessment |
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316 | (3) |
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319 | (1) |
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320 | (3) |
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323 | (6) |
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B Multicriteria Decision Modeling |
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329 | (10) |
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B.1 Multiobjective Decision Making |
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330 | (3) |
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B.2 Multiattribute Decision Models |
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333 | (6) |
References |
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339 | (24) |
Index |
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363 | |