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What is the Economic Impact of a Neighborhood Revitalization Housing Program?

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What is the Economic Impact of a Neighborhood Revitalization Housing Program?
Answer: 

The primary issue you have identified is the shortage of houses, especially those priced below $150,000. Since there is not enough information to evaluate the entire situation, let's make a few assumptions and discuss how the tax rebate policy may play out under each of those scenarios. 

What is the impact of local news on the local economy?

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What is the impact of local news on the local economy?
Answer: 

There is an extensive research record on the role of information on stock and commodity prices. Among the examples:

Th U.S. Bureau of Labor Statistics has strict rules on how and when they release their monthly reports on unemployment and employment as the news affects stock and bond prices. Individuals who would have access to the information before the public release could make millions of dollars by trading on the information in advance.

The SEC has strict prohibitions against individuals trading on inside information on a publicly traded firm’s future profitability.

Renting v Buying a Home

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Renting v Buying a Home
Answer: 

Disclaimer.  The following is not intended as investment advice. You should consult a financial advisor who knows the tax and real estate issues related to New York City as there are likely many factors to consider.

Why are similar types of shops located in clumps?

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Why are similar types of shops located in clumps?
Answer: 

This is an interesting observation.  We regularly see spatial clustering of similar establishments for a number of reasons including natural advantage, agglomeration economies, zoning, social networks, and "norms" shaping location decisions.  The relative importance of these likely varies substantially across countries and industries.

Do longer commute times lead to community decline?

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Do longer commute times lead to community decline?
Answer: 

The question you asked is complicated, but I think it boils down to: “do longer commute times lead to community decline?”. First, I am not sure if communities are in decline generally, but you cite some examples of community decline, such as civic engagement, church attendance, school performance, and divorce rates. First, I would like to lump the first three examples and push divorce rates aside. Divorce is important if we have community decline in mind, but divorce has more to do with no-fault divorce laws and broader social change.

How are inflation and housing prices connected?

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How are inflation and housing prices connected?
Answer: 

People sometimes have different ideas in mind when considering home price appreciation.  Most conventional discussions do not adjust for inflation.  A more nuanced consideration could account for rises in the general price level, i.e., inflation, but that is less typical.

Would unbundling parking have a large impact on the profits of landlords?

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Would unbundling parking have a large impact on the profits of landlords?
Answer: 

This is an interesting question with a complicated answer. The short answer is that in the long run unbundling parking would probably 1) benefit landlords, 2) benefit tenants without cars, 3) increase costs for tenants with cars, and 4) lead to more street parking and associated externalities. 

What if we tie minimum wages to a rental price ceiling?

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What if we tie minimum wages to a rental price ceiling?
Answer: 

Traditional economics tells us that price ceilings lead to shortages. A lower price encourages sellers to reduce the quantity they supply to the market. A lower price also encourages buyers to increase the quantity they demand. As a result, quantity demanded exceeds quantity supplied, and many potential buyers miss out.

What is the resale value of my condominium if every dog owner refused to purchase any unit prohibiting dogs?

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What is the resale value of my condominium if every dog owner refused to purchase any unit prohibiting dogs?
Answer: 

It seems there are two markets for condominiums: units that allow dogs (Market Dog) and units that do not (Market Sad). My black lab mentioned that the latter group are probably sad folks. OK – my econ jokes in class aren’t any better.

Would the implementation of a land value tax be reasonable in a small country with a tourism-based economy?

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Would the implementation of a land value tax be reasonable in a small country with a tourism-based economy?
Answer: 

Economists generally agree with Henry George that land value taxes promote efficient use of land. A small country with a tourism-based economy seems like an excellent case for the efficiency of a land value tax. The bigger issues concern equity and politics. Equity concerns are both horizontal and vertical. 

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