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MODULE 8. Definition : Filtering Down (Up) is a decline (increase) in real value of a a quality-adjusted unit of housing. Filtering Model. 1.) For each Household i, Y i = Real Income 2.) For each Dwelling j, QL j = Quality Measure

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Definition:Filtering Down (Up) is a decline (increase) in real value of a a quality-adjusted unit of housing.

Filtering Model


1.) For each Household i, Yi = Real Income

2.) For each Dwelling j, QLj = Quality Measure

3.) For each Dwelling j, Vj = Real Value

4.) Housing Market is assumed to be in

Equilibrium

Filtering Model Assumptions


(A) Limits to Filtering-Up

(B) Limits to Filtering-Down

Limits to Filtering Up/Down




Low Income Housing

Removal of Slums

Supply of Slums

Does the Filtering Model Work?


(1.) Neighborhood Externalities

(2.) Profitability Bias

(3.) Social Costs

Sub-optimality of Housing Slums


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