Urban Revitalization and the Elderly:

Since the mid-1970s some evidence exists that some American cities are being "revitalized." This paper presents empirical evidence on the effects of revitalization on the elderly in three neighborhoods in Washington, D.C., Boston, and St. Paul. Evidence from three cities shows that citywide data do not show any signs of strong revitalization, reinforcing the view that it is a very localized neighborhood phenomenon when it exists. There is no consistent evidence that the elderly perceive great changes in these three neighborhoods; in each neighborhood, members of the majority race feel more positively about neighborhood changes. Changes in people, and changes in safety and security, are the most commonly perceived neighborhood changes. The housing consumption of many of the elderly, particularly homeowners, is not related to their current income. Public or private programs which increase their mobility and enable them to augment their current income by obtaining annuities backed by housing could increase their welfare at little or no cost to government.