Keep telling yourself that. |
That’s because economics is fluff “science” and “the most respected economists” are often as clueless as the eager folks on DCUM. |
There - fixed it for you. |
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Economist here (not the PP). The Annenberg and Kung study has some nice features, but I wouldn't put much stock in its conclusions yet. I would characterize it as being more like a first step in setting some building blocks for future structural modeling. There are still big gaps that need to be addressed.
The authors highlight the lack of migration in their model, and that's an important gap. But, I think they have a bigger issue which is the lack of a model of amenities. Their model concludes that is is more effective to improve amenities in lower-priced neighborhoods than to build more in high-priced neighborhoods, but housing is assumed to be of an identical form in LL locations, and amenities are implicitly assumed to be location-specific, but non-rival and therefore not a source of negative externalities. In the real world, different types of neighborhoods have different types of amenities. Amenities in more urbanized areas tend to be effectively non-rival and non-excludable (sidewalks, public parks, coffee shops and restaurants). But, these amenities are often only financially viable given sufficient density, and their utility to residents is itself often a function of density, because people like these things to be within walking distance. Suburban areas have a very different set of amenities (larger private lots) that can impose large negative externalities on residents of other neighborhoods by using up much of the available land for private use. Their model doesn't have anything to say about this, and their empirical methodology isn't able to take it into account at present. In summary, amenities are heterogeneous, and spatial characteristics of different neighborhoods are heterogeneous in ways that are tightly linked to amenities. So, we can't really conclude much about the value of increasing density without constructing a model that also links the two. My strong suspicion is that if you wrote down a monocentric city model that allowed for migration and for density to increase the quality of non-rival amenities, you'd fit the data at least as well as their model, but you'd also conclude that increases in density increase aggregate utility for both high-income and low-income residents. It would do this by improving amenities for high-income residents while also increasing affordability for lower-income residents who reside in more peripheral locations. |
The neighborhoods were already integrated before the gentrification took over besides McClean |
Why? |
Don't worry, PP. You don't have to associate with your neighbors if you don't want to. You can keep yourself to yourself. |
| If I could make more money renting out to more people why wouldn't I? Now, if more people are staying in a single family unit, that is a different discussion. |
I like you. I will be voting for my first all Dem ticket next election, also based on gun control gun control gun control.... |
| Given that the local Democrats best a hasty retreat in Fairfax County, one of the state’s most liberal jurisdictions, when it became clear that most residents wanted no part of their Maryland-style plan to redraw school boundaries on a county-wide basis to promote “equity,” it’s unlikely that state Democrats will have much appetite for Samirah’s proposal, which is mostly intended to please his higher-income white and Asian constituents in Herndon and Sterling by finding a way to relocate poor Hispanics to higher-income areas. |
This. It is marketed as affordable housing and is politically correct to put in smaller units but the developers make more money. The term in sticking in smaller units in existing communities is called "infill." |
Economists are respected by two kinds of people: 1) other economists, and; 2) the folks who stay rich from the “models” they construct in their ivory towers. |
The people who move into those units also benefit, no? Just like you benefit from the developer-built unit you live in. |
Who else is going to build housing? |
Why do you find it necessary to write a lengthy treatise on here when your conclusion is nothing more than a suspicion? This is why many people think economists are blowhards. |