Paul A. Joice

Policy Briefs
The Policy Briefs department summarizes a change or trend in national policy that may have escaped the attention of researchers. The purpose is to stimulate the analysis of policy in the field while the policy is being implemented and thereafter.

The opinions expressed in this article are those of the author and do not necessarily reflect the opinions of the U.S. Department of Housing and Urban Development or the U.S. government at large.

In July 2008, Congress established the Neighborhood Stabilization Program (NSP) to help local governments address the neighborhood effects of concentrated foreclosures. As of the writing of this article, a total of $7 billion has been allocated to the program. This policy brief presents a theoretical justification for NSP and discusses how the U.S. Department of Housing and Urban Development implemented the program.