Chicago presents itself as a city defined by neighborhoods and defended by each neighborhoods alderperson. Arguing for an up zone to develop market rate units is a neighborhood issue and a common hurdle for development.
How does the across market filtering affect the neighborhood the units are being delivered in vs the city itself? On what time scale?
How does the repeat income model handle lifecycle effects on income? Eg. if income rises with the resident's age, then income and building age will be positively correlated.
Is the y-axis for within unit filtering just ratio of real income, or is there some kind of controlling for overall economic performance? I would expect the first one to show an increase in almost all cases just due to generally increasing GDP, so not seeing that would be surprising. Also, since individuals generally make more income in the course of their lives (until at least their mid 50s or whatever), you would expect an upward trend in the owner occupied numbers for at least the first decade after construction, because the occupants would tend to be the same as the initial owners , just with 10 more years of work experience.
For between unit filtering, it would be interesting to disaggregate moves that involved household formation or splitting from those that didn’t. An established family moving is presumably going to look for a nicer/bigger home, but the dynamics for young adults leaving home or moving in with a significant other or whatever could complicate things.
Great post! I thought Yoni Appelbaum's description in "Stuck" of "moving day" was a brilliant example of across-market filtering.
Super neat.
Chicago presents itself as a city defined by neighborhoods and defended by each neighborhoods alderperson. Arguing for an up zone to develop market rate units is a neighborhood issue and a common hurdle for development.
How does the across market filtering affect the neighborhood the units are being delivered in vs the city itself? On what time scale?
How does the repeat income model handle lifecycle effects on income? Eg. if income rises with the resident's age, then income and building age will be positively correlated.
Interesting!
Is the y-axis for within unit filtering just ratio of real income, or is there some kind of controlling for overall economic performance? I would expect the first one to show an increase in almost all cases just due to generally increasing GDP, so not seeing that would be surprising. Also, since individuals generally make more income in the course of their lives (until at least their mid 50s or whatever), you would expect an upward trend in the owner occupied numbers for at least the first decade after construction, because the occupants would tend to be the same as the initial owners , just with 10 more years of work experience.
For between unit filtering, it would be interesting to disaggregate moves that involved household formation or splitting from those that didn’t. An established family moving is presumably going to look for a nicer/bigger home, but the dynamics for young adults leaving home or moving in with a significant other or whatever could complicate things.