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MODULE 8

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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MODULE 8

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  1. MODULE 8

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

  3. 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

  4. (A) Limits to Filtering-Up (B) Limits to Filtering-Down Limits to Filtering Up/Down

  5. Describe Equilibrium

  6. Describe Shifts from Equilibrium

  7. Low Income Housing Removal of Slums Supply of Slums Does the Filtering Model Work?

  8. (1.) Neighborhood Externalities (2.) Profitability Bias (3.) Social Costs Sub-optimality of Housing Slums

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