Econ 366 Notes (10.22.2008)

Econ 366 Notes (10.22.2008) - of owner-occupiers has...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Econ 366 Notes 10/22/2008 *** HW #2 will be posted today on Blackboard. Due on Monday (10/27) *** Chapter 12: Housing Problems and Policies Housing in the U.S. - U.S. has one of the best housing overall for any country in the world o Especially if you look at both the quality and area that every person is allotted o But, not the best in every respect o This was not true in the 1940s So, there has been a significant change in the past decades since Why did housing improve? - One reason: Real income capita has improved o Due to 1) increasing participation of women in workforce and 2) decline in fertility Change in housing costs and rents
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: -% of owner-occupiers has increased result: increasing inequality between highly educated and less-educated workers… disparity between rich and poor increased Housing problems-Two essential qualities of a house o Durability o Inflexibility Abandonment-One of the major problems of housing-An economic decision Effects on Abandonment-Has cost beyond the owners: reduces safety/attractiveness of a neighborhood-Could be a vicious cycle-High crime rates could make a neighborhood undesirable and lead to fall in property values and induce retirement Filtering-...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online