ECON 366 Notes (10.08.2008)

ECON 366 Notes (10.08.2008) - ECON-366 Lecture (10/8/2008)...

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ECON-366 Lecture (10/8/2008) Term Paper (due November 26 th ) - First section: general description - Second section: history of development of urban area - Third section: focusing in on one problem of this urban area… what is interesting about this urban area regarding its problem - Fourth section: conclusion - BY NEXT WEDNESDAY: e-mail Professor Sengupta the following o Title of term paper you’re going to do o One paragraph about what you’re going to do You can pick a city/urban area, or a compare two cities/urban areas that have the same problem o Indicate where you plan to get the data from (if you can) Publications, resources, etc. Chapter 10: The Market for Housing - Quantity and Price Measures for Housing - Cost of Capital: Complications - The Market for Housing - Summary: we’re looking at the fact that the housing market presents unique features not covered by the other markets. So, what are the specific features? What is so special about the housing market? INTRODUCTION - Housing is an important household good (crucial for living standard). Americans devote 15.5% of income to housing and 12.5% to utilities, insurance, maintenance, etc. - Housing is the most important privately owned asset . 40% of the market value of all privately owned fixed capital. About 1.8 times the annual disposable income. - Housing is among the most durable assets (average 40-50 years). By comparison, other privately owned assets like consumer durables and producers’ equipment last 5- 20 years. QUANTITY AND PRICE MEASURES
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ECON 366 Notes (10.08.2008) - ECON-366 Lecture (10/8/2008)...

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