Nicholas B. Irwin (Economics) recently published a paper, in Papers in Regional Science. The paper models the extent of spatial spillovers in housing renovations and estimates the effect previously observed renovations by a neighbor have on a homeowner's likelihood to renovate in the future. The paper finds strong evidence of spillovers with a neighboring renovation increasing renovation likelihood by at least 1.8% These spillovers indicate that positive feedback cycles may manifest and potentially create significant private market multipliers from city‐led urban revitalization policies that encourage renovation by homeowners.
