Reply to Overriding local zoning to allow multi-family units in suburban neighborhoods in VA

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]No, there are more assumptions and limitations than that.[/quote]

Oh no, the irrefutable argument! [/quote]
[i]
One potentially important assumption behind our analysis throughout this paper is that our model treats each city as a closed economy.  Although households can choose from among many different types of neighborhoods within the city, they cannot choose to live outside the city, and households from outside the city cannot chooseto move to the city. Therefore, in our counterfactuals where we expand the housing supply, we must assume that the new entrants to the city arrive exogenously, and we must make an assumption about the distribution of preferences among the new entrants. Our counterfactuals are concerned with small changes to the housing stock, so it turns out that our results are not too sensitive to this assumption. However, for larger changes to the housing stock of the city, the number and particular preference distribution of new entrants may become important for the main results. Moreover,our model ignores any potential congestive or agglomerative effects associated with increasing housing supply in a city, which may be appropriate for small changes but is less realistic for large changes. Thus, we caution against extrapolating our model’s elasticities to very large changes to the housing stock.[/i][/quote]

This doesn't seem like an issue. Rezoning isn't likely to create a huge change. The available housing won't double overnight. [/quote]

They're basically saying that the real world is different from their model. That's an issue.[/quote]

No, it's saying that their model assumes that there isn't radical changes in housing availability. Allowing multi-family units isn't going to have much effect on available housing in the suburban areas of NoVA. For various reasons, there are limits on the speed at which single-family units would be converted to multi-family units. For instance, their model can't accommodate the government (or a developer) creating hundreds of new units of affordable housing in a single location. However, that's not really an issue. That will never happen in NoVA. [/quote]

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