Washington, D.C.-- Yesterday the Center for American Progress released a first-of-its-kind analysis calculating the impact that violent crime rates have on the real estate values and fiscal stability of eight major American cities. Dr. Robert Shapiro of Sonecon and Dr. Kevin Hassett of the American Enterprise Foundation isolated the financial impact of violent crime reductions on residential property values and crime-related municipal expenditures. Based on the results of this innovative investigation, the report's authors calculate the potential savings and other benefits that property owners and city governments could secure by reducing violent crime. "In today's challenging economic climate, this report presents a cost-saving option available to many American municipalities: Boost the value of residential housing and secure budgetary savings by reducing the rate of violent crime," said Donna Cooper, Senior Fellow at the Center for American Progress. Entitled "The Economic Benefits of Reducing Violent Crime," the report presents the findings of a yearlong project to examine and analyze the costs of violent crimes nationwide and in a sample of eight major American cities. The analysis draws on data pinpointing the incidence and location of violent crimes over several years as recorded by the police departments of Boston, Chicago, Dallas, Houston, Jacksonville, Milwaukee, Philadelphia, and Seattle.