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In economics, the primary efficiency requirement in house allocation is PE.There are various algorithms attaining a PE allocation in various settings. Probably the simplest algorithm for house allocation is serial dictatorship: the agents are ordered in some arbitrary order (e.g. by seniority), and each agent in turn picks the best remaining house by his/her preferences.
In addition to shortage and affordability issues, the term "housing crisis" has been used for overlapping concepts such as a "fair housing crisis," involving residential discrimination and effects of segregation; an "eviction crisis"; issues of gentrification and displacement; and environmental concerns.
Incomplete housing development near Houston, Texas. Sales prices of homes sold 2002–2010. The White House Council of Economic Advisers lowered its forecast for U.S. economic growth in 2008 from 3.1 per cent to 2.7 per cent and forecast higher unemployment, reflecting the turmoil in the credit and residential real-estate markets. The Bush ...
The expansion of the big modern cities gives the land in certain sections of them, particularly in those which are centrally situated, an artificial, often economically increasing, value; the buildings erected in those areas depress this value . . . because they no longer correspond to the changed circumstances. . . .
The Home Depot's bottom line boost is thanks to lots of cost cutting, namely slowed expansion and the closing of under. The Home Depot's profits jumped 44% this quarter, beating expectations and ...
In much of the world, incomes are too low to afford basic formal housing, [2] as housing expenses have increased faster than wages in many cities, especially since the global financial crisis of 2008. [3] In some places, this leads to informal settlement in slums or shantytowns, while in others such informal settlements are prohibited. [2]
The value function that passes through the reference point is s-shaped and asymmetrical. The value function is steeper for losses than gains indicating that losses outweigh gains. Prospect theory stems from loss aversion, where the observation is that agents asymmetrically feel losses greater than that of an equivalent gain. It centralises ...
Therefore, the 2% drop in long-term interest rates can account for about a 10 × 2% = 20% rise in home prices if every buyer is using a fixed-rate mortgage (FRM), or about 16 × 3% ≈ 50% if every buyer is using an adjustable rate mortgage (ARM) whose interest rates dropped 3%.