Patrick Power PRO
Economics PhD @ Boston University
Introduction
The economics of Housing & Homelessness
Today's outline
- Introductions
- Conversation about Readings
- Course Overview
Introductions
Why this course?
Economics is the study of Relationships that
Shape / Influence/ Make up / Determine
the broader Economy
The Relationships Surrounding Housing & Homelessness are of Fundamental
Importance
April 24, 2023 -- LA Times
Why Housing (Broadly Defined) Now
Why Homelessness?
Preventable with (moderate) resources?
Related Topics
Econometrics
Poverty
Ethnography
Investing
Public
Health
Addiction
Family
Law
Public Saftey
Insurance
Language
Models
Economic Research
A Divergence of Opinions
On Homeless & Housing Projects
Interesting & Important Questions
Interesting Questions We Can Credibly Answer
Research
Credible
Important
Choice Set
Research is important, but it's only a part of it
On the Relationship with Medicine
Medicine
Providing medicine might improve the well being of those around the patient
Spillover Effects
Economics
Providing a low-income individual with a housing voucher might make it harder for another low-income individual to secure housing (Musical Chairs)
Incentives
Tenant might work less
Landlords might increase rental price
Spillover Effects
"In 1903 economist Richard Hurd became the first person to compute formulas for this equation. He assumed that the speedier service of the electronic streetcar was saving the average rider fifteen minutes in each direction, thus making possible a journey of three more miles in the same time span. In 1903 dollars, his estimate of the increased values within the three-mil zone of a semi-circular city like Chicago was $456 millon. Hurd's precise calculation are unimportant, but he raised to a science what transit entrepreneurs already knew and what the public was beginning to learn."
On the Ground Experience
Economist
General Public
Flow of Information
Course Logistics
- Daily readings
- Four coding problem sets
- A series of writing assignments
- A final research paper
Course Work
Course Expectations
- Class attendance & daily readings
- Limited Laptop use
Philosophy
- What might happen to the Housing Market if Fannie Mae could operate in a secondary market of Construction Loans?
AiMs
- Learn more about yourself
- Learn more about housing and homeless
- Become a better technical writer
- Become better reader of the newspaper (listener of podcasts)
FOcus
- Learn to think, write and conduction research as an Economist
〞
Never Let Homework Get In the Way of Your Education
Readings
Million-Dollar Murray
Million-Dollar Murray
Housing & Homelessness Introduction
By Patrick Power
