The object of study in social housing used to point an aging population, and single-parent families. With the international economic recession, lots of money flowing into the housing market that causing the prices stubbornly high. The Youth is unable to find the housing which they can affordable and become the working poor. In order to achieve the goal of living justice, assist and encourage youth people having the home appropriate ownership and proposed housing subsidy policy. In this study, the subjects have chosen for 20-year-old to 45-year-old youth citizens (at least 400 youth citizens) between the Taipei city and Kaohsiung city. We want to know the reaction whether has different of background with public information, policy recognition, current situation, rented of demand and the burden, non-rented of demand and the burden. In conclusion, both regions have the same main housing demand in the rent. Youth people are turly have the application for subsidy demand that Government should expand the service object included in the 20-year-old to 40-year-old single youth population. And encouraged people who is unable to have the ability to apply for subsidies in renting, combined with factors for single young people living considerations resolve youth people of housing demand from the supply side.

Thesis (Ph. D.)--School of Public Policy, Georgia Institute of Technology, 2004. Directed by Philip Shapira. / Vita. Includes bibliographical references (leaves 173-182).

This dissertation investigates people’s responses when access to or the level of local public goods is proposed to or actually changes. By understanding how people respond to potential changes in school assignment, construction of the interstate highway system, and the widening of existing highways, researchers can gain better insight into how to accurately estimate people’s valuation of local public goods and policy makers can pursue effective policies to relieve traffic congestion and mitigate the impact of new highway construction. The first essay examines if information regarding potential school reassignment causes cross-sectional capitalization estimation techniques, most notably the border method, to undervalue people willingness to pay for school quality. Using hedonic regression techniques and home sale data from DeKalb County, Georgia, I find that residents’ expectations of future school quality are important factors in determining the magnitude of school quality capitalization estimates. The second essay explores how the construction of the interstate highway system impacted agricultural land loss in Georgia. Since agricultural land provides many positive externalities while its loss leads to several negative externalities, the results inform policy makers seeking to preserve agricultural land and study the urban form. Using a historical dataset covering 1945 to 2007, I find that each additional highway mile constructed led to the conversion of 468 acres of agricultural land. Finally, the third essay investigates commuter responses to the widening of existing highways in order to evaluate the effectiveness of road construction as a traffic congestion relief measure. The results indicate that the elasticity for the demand of driving with respect to the road supply is 0.522 and that it grows over time. Taken together, the result for the estimated elasticity imply that road construction may provide some congestion relief in the short run but eventually the expanded roads will be just as congested as before. The results of the three essays suggest that researchers and policy makers should take into the consideration how people will respond to potential changes to public goods as well as the short and long term impacts on investments in public goods.

A better understanding of people’s attitudes to housing is fundamental to attracting new residents and retaining those who already live in or close to the central city. As such, this study operating in a Canadian context adopts Hägerstrand’s model for the process of innovation diffusion. The study draws on the findings of an online survey and interviews with city planners in both Edmonton and Winnipeg to explore the demand and supply dimensions of city-center living and attitudes towards different types of housing and neighbourhood design. The study shows that the central area in Winnipeg and Edmonton are at different stages regarding housing. Prospective home owners who are interested in housing in the central area share a number of environmental attitudes. These attitudes were related to the care for recycling, the importance for eating organic food, the use of public transportation, volunteering in non-profit organization to help the community and the interest in attending cultural activities. Based on the results of the study, it can be expected that housing types such as apartments, townhouses and even loft housing can be more common in the future and especially in Winnipeg since apartments and townhouses are already common in Edmonton.

A better understanding of people’s attitudes to housing is fundamental to attracting new residents and retaining those who already live in or close to the central city. As such, this study operating in a Canadian context adopts Hägerstrand’s model for the process of innovation diffusion. The study draws on the findings of an online survey and interviews with city planners in both Edmonton and Winnipeg to explore the demand and supply dimensions of city-center living and attitudes towards different types of housing and neighbourhood design. The study shows that the central area in Winnipeg and Edmonton are at different stages regarding housing. Prospective home owners who are interested in housing in the central area share a number of environmental attitudes. These attitudes were related to the care for recycling, the importance for eating organic food, the use of public transportation, volunteering in non-profit organization to help the community and the interest in attending cultural activities. Based on the results of the study, it can be expected that housing types such as apartments, townhouses and even loft housing can be more common in the future and especially in Winnipeg since apartments and townhouses are already common in Edmonton.

Housing -as a special product- distinguishes the behaviour of its demand and supply. An imbalance of housing supply against demand can be a crucial part of economic crises, as happened in Thailand between 1996 and 1997. Can the housing market be controlled in a robust and rigid system? A secure market depends on balancing demand and supply dynamics; therefore, any demand has to be quantified. This research demonstrates how housing demand can be modelled by using a System Dynamics approach. This modelling concept has been set up, using the root causes which generate housing demand. Causal factors which influence housing demand are collated, and mapped. A model simulating housing demand was developed. Keys to this are demographic, social and economic factors. This model is presented with a view to pursuing new approaches for housing demand modelling. Conceptual ideas are developed on how to quantify housing demand, and the result of the simulation can then be used as a basis for policy and decision making in housing markets. The housing demand model developed from this research depends on many interrelated factors. These factors can be categorized into three broad groups, following precedent set by a review of available literature. Initial factors included demographics which deal with population number, age structure, including migration, birth and death rate. Next, social factors, in terms of marriage, divorce and splitting-household rate (i.e. household formation rate) play a major role in creating

The goal of this thesis is to explore how household heterogeneity propagates and amplifies macroeconomic shocks within the economy using both economic theory and empirical data. The assumption of a single "representative" household has been a mainstay of macroeconomic research over the past half-century. However recent work suggests that not only is there a considerable degree of heterogeneity among households, but that these differences have a significant impact on a range of macroeconomic issues such as the e?ectiveness of fiscal stimulus (Kaplan et al., 2014; Broda and Parker, 2014), monetary policy (Auclert, 2017; Kaplan et al., 2016), the housing market (Attanasio et al., 2012; Blundell et al., 2008; Guerrieri and Iacoviello, 2017; Ngai et al., 2016; Mian et al., 2013), consumption (Ahn et al., 2017a; Blundell and Preston, 1998; Campbell and Cocco, 2007; Engelhardt, 1996) and employment (Ravn and Sterk, 2016; McKay and Reis, 2016; Abo-Zaid, 2013a) among many others. This literature has highlighted how households respond differently to aggregate shocks or changes in policy and how simply aggregating or averaging across them can obscure important truths about the economy. However, relaxing this assumption poses several challenges. The first is choosing the degree and manner in which households di?er. While in reality households can differ along many dimensions, in practice it is only feasible to include a small number of these in any given model. Thus one must choose the most salient dimensions along which households differ and the structural reasons behind such differences. For example, when examining the dynamics behind the housing market is it important to model differences in income, wealth, age, tastes or composition? No single model will be able to incorporate all these differences and so it is incumbent on researchers to proritise and justify their choices. In this thesis I will show why household heterogeneity in the housing and labour markets is both empirically relevant and an important consideration when considering the problem of optimal policy. The second challenge is a computational one. While models can be structured such that differentiated households make identical decisions, in general these differences will cause choices, and thus outcomes, across households to diverge. This produces a non-degenerate distribution of households across their specific state variables. This raises the problem of how this potentially infinite-dimension distribution is incorporated within the model. Previous literature has developed a range of options for handling this problem including approximating the distribution with a small handful of moments (Krusell and Smith, 1998) and approximating it with projection and perturbation methods (Reiter, 2009). In this thesis I will outline two different methods for dealing with this computational problem. The first, set out in Chapter 1, shows how market clearing prices can be feasibly calculated by aggregating over the distribution of households. The second approach involves simulating the model with aggregate uncertainty using numerical derivatives based on impulse response functions. The first chapter of this thesis will examine how heterogeneity in wealth and income affects households' decision to purchase housing and the implications for their consumption of non-durable goods. It constructs an Aiyagari-Bewley-Huggett model in which households are subject to an idiosyncratic income shock and thus hold different amounts of liquid wealth and illiquid housing. I then evaluate how the anticipated changes in household debt associated with the leveraged purchase of housing affect the consumption of non-durable goods. I show that the differences in income and wealth lead to significant variance in marginal propensities to consume among households. I show that households that are saving for a house deposit can have negative marginal propensities to consume as they lower their consumption in anticipation of being credit constrained as the probability that they will buy a house increases. This result has important implications for the design of fiscal policy, as it shows that payments to first time home buyers, which was a common policy response to the Global Financial Crisis, can lead to falls in aggregate consumption rather than stimulating growth. The second and third chapters examine how the combination of heterogeneity in workers' wages and downward nominal wage rigidity affects the transmission and design of different aspects of monetary policy. In Chapter 2 I show that in this environment there is a trade-off between a higher rate of inflation which gives workers more flexibility when setting real wages, at the cost of greater price dispersion in the goods market. After outlining a numerical algorithm to solve the model I use micro-data on the distribution of workers' change in wages to calibrate the nominal wage rigidity. I show that downward nominal wage rigidities bend the Phillips curve constraining the inflation rate from falling in times of low demand. This indicates that an inflation rate that is only moderately below its target can mask large falls in the output gap. Finally, I find that the monetary policy rule can be implemented by placing a higher weight on wage inflation, relative to a symmetric nominal wage rigidity. In Chapter 3 I discuss how downwardly rigid wages can amplify or mitigate the welfare loss caused by the zero lower bound on nominal interest rates and how this varies with the parameterisation of the model. I find that the optimal rate of inflation is increased by the presence of both nominal interest rate and wage rigidities, when modeled either separately or in tandem, and is 3 per cent in the baseline calibration of the model.

No description available.

Para analisar a evolução da produção habitacional privada é necessário compará-la ao comportamento da demanda, que, neste caso, tem a formação de domicílios como uma de suas principais componentes. Analisando o mercado habitacional brasileiro, tem-se uma clara tendência de incremento no número de unidades produzidas após o final da década de 70, resultado do crescimento populacional e da forte atuação do Banco Nacional da Habitação (BNH), principal fomentador deste setor naquele período por meio do Sistema Financeiro de Habitação (SFH). No entanto, nas duas décadas subseqüentes, mesmo com a continuidade do incremento de domicílios no país, a produção de unidades experimentou um período de retração. Esta nova condição provocou um descolamento entre a produção habitacional privada e a sua principal componente de demanda: a formação de domicílios. Após a deterioração do ambiente econômico e a extinção do BNH, o mercado de empreendimentos imobiliários habitacionais sofreu com a falta de direcionamento de recursos para o setor. Esta condição somente se alterou a partir de 2002, com alterações na dinâmica do SFH e de uma melhora no ambiente econômico de forma geral, que, em conjunto, contribuíram para o regresso de recursos ao mercado habitacional e impactaram positivamente a produção de novas unidades. Em 2006 foram realizadas as primeiras aberturas de capital dos empreendedores do setor, o que trouxe ainda mais recursos para o mercado e elevou o nível da produção habitacional privada a outro patamar. Este trabalho realiza uma revisão bibliográfica sobre o tema demanda habitacional e suas interfaces com o ambiente econômico. A partir da análise da produção habitacional privada na cidade de São Paulo de 1998 até 2008 frente às variáveis condicionantes selecionadas: formação de domicílios, renda, oferta de recursos, custos do financiamento habitacional, preço e taxa de atratividade são interpretadas as fontes de distorção que provocaram o descolamento entre a formação de domicílios e a produção habitacional privada no período. / When analyzing the residential real estate market one of the main factors that influence its behavior is the demand, which has a strong relation with the household formation. According to the Brazilian housing market history, it is possible to notice an upward trend after the end of the 70´s, which was positively influenced by the population growth and the strong performance of the Banco Nacional da Habitação (BNH) - the main financial institution player responsible to support the sector in that period. However, in the next two decades, even considering the Brazilian household increase, the residential real estate market faced a decrease in the new offer of units causing a gap between the housing construction and its main demand component: the household formation. After the economic turmoil and the extinction of the BNH, the residential real estate market had no access to sources of funds to support the business. This scenario started to change in 2002, after an improvement in the Brazilian economic conditions and in the SFH, which ended up with an increase in the availability of funds to the sector, a better business environment and a growth in the housing construction. In 2006 the first developers went public bringing more funds to the sector and leading the housing construction to a new level. This paper analysis the academic works state of art regarding the housing demand and its interfaces with the economic environment. The causes of the gap between the housing construction and the household formation are identified according to the behavior of the variables selected: household formation, income, availability of funds, financing costs, price and capitalization rate.

O objetivo desta pesquisa é investigar a adequação da Análise de Mercado Imobiliário AMI ao caso do município de São Paulo. Em particular, na análise do chamado mercado econômico de moradias 5 a 10 salários mínimos de renda familiar, segmento que é tido como possuidor de renda superior à necessária para ser enquadrado nos programas oficiais, mas insuficiente para adquirir moradia produzida pelo mercado formal. Como uma política imobiliária urbana poderia criar as condições para que estas famílias pudessem ser atendidas pelo mercado formal, em áreas mais centrais da cidade? Para responder a esta questão é necessário compreender a dinâmica residencial deste mercado econômico, tema em que a pesquisa acadêmica tem sido incipiente. A tese concentrou-se na mensuração da demanda disponível por categorias de renda, que foi cruzada com a oferta de moradias pelo mercado. Os resultados indicam para o município de São Paulo, um parcial ajuste no centro das duas curvas, em 2006, e um descolamento nas pontas, ou seja, há uma importante demanda não atendida para a categoria de renda de 5 a 10 salários mínimos e uma sobre-oferta para rendas superiores a 30 salários mínimos. Em 2007, a melhoria nas condições de crédito aumentou em 30% o valor médio dos imóveis financiados, resultando em um deslocamento vertical da curva de oferta e, conseqüentemente, uma diminuição da demanda não atendida pelo mercado econômico. Aparentemente o uso da AMI foi adequado à realidade paulistana. / The purpose of this research was to study whether Real Estate Market Analysis has been adequate to the case of the municipality of São Paulo housing market. Particularly, to focus on the so called low cost housing between 5 and 10 minimum wages family income. This segment is understood as having income that is superior to those in the governmental housing programs but that is not enough to afford buying a house in the formal market. How a Real Estate development policy could create conditions for those families to afford to buy a house close to the more central areas of the city? In order to answer this question, it is necessary to understand the dynamics of low cost housing a subject somehow neglected in academics. The Dissertation has focused on the measurement of housing demand curve for different income brackets and comparing it with the housing supply curve. The results for São Paulo, for the year of 2006, indicated a partial alignment of the curves and a separation between them at the edges. It means that there is an important non-attended demand for the 5 to 10 minimum wages income bracket, and on the other hand, an over supply of housing for families with income over 30 minimum wages. For 2007, better credit terms resulted in 30 % increase in housing financing, shifting upwards the supply curve and, therefore, decreasing low cost housing demand. Real Estate Market Analysis seemed to be adequate for analyzing the São Paulo market.