2016/05/17 by Peter M. Haas, P. M. Haas, G. L. Newmark +3 · 1 citation
Social Sciences · Economics, Econometrics and Finance · #Urban Transport and Accessibility #Transportation Planning and Optimization #Housing Market and Economics
paper · doi:10.1080/10511482.2016.1158199
It is now accepted that to have an understanding of housing affordability one must consider not only housing costs, but also the transportation costs associated with that household location. To make this information readily accessible to the public, the United States government created an Internet resource, the Location Affordability Portal – Version 2 (www.locationaffordability.info), to provide housing and transportation costs for every neighborhood in all 50 states and the District of Columbia. Although the statistical model at the heart of this resource was designed for predictive accuracy, its design and parameter estimates can provide additional insights into the interaction of housing cost and transportation choices (and thus its cost). This study describes the development and explores the policy implications (and limitations) of this structural equations model, the Location Affordability Index Model – Version 2 (LAIM2).