Primal/Dual Relationships in a Pair of Multisectoral Housing Market Models

Article Abstract:

Vacancy chain analysis can be a basis for urban housing market sector studies on mobility, opportunity and price. This analysis should be put in a systems analytic framework and treated as a pair of linear programming models. Vacancy flows are graphed. Vacancy can be created through new construction, conversion to multi-family occupancy, out-migration and household changes such as death or divorce. Vacancies can be ended by in-migration, new household formation, demolition, abandonment and stock withdrawal. Early modeling of the process used imbedded Markov chains; later modeling used a Leontief-styled input-output framework. Both models can be treated as simple linear programs. Each has a dual which generates housing shadow prices for new or existing units. Accounting equations for the models are featured as are tables showing matrix styled data and event classes. This research can be used in planning for housing, land use and infrastructure.

Linear programming, Housing, Systems analysis

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Structural estimation of residential mobility and housing tenure choice

Article Abstract:

Dynamic discrete choice models were used to analyze households' decisions to move and rent or own their homes. Key dynamic elements and heterogeneity were identified as major determinants of tenure choice and mobility decisions by means of lagged dependent variables. Results showed that households were highly responsive to housing marketing conditions. It was found that they were less likely to own houses whenever housing prices appreciate.

Research, Households, Residential mobility

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Capitalization of urban travel improvements into residential and commercial real estate: simulations with a unified model of housing, travel mode and shopping choices

Article Abstract:

A study has been conducted to simulate the effects of urban transport improvements on residential and nonoffice commercial real estate markets in metropolitan areas using a short-run equilibrium model. Two kinds of benefits, consumers' surplus and producers' surplus, were examined to relate the effects of travel on property values. Sensitivity tests and statistical analysis were also conducted.

Analysis, Economic aspects, Cost and standard of living, Cost of living, Rents (Property), New York Metropolitan Area

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