Abstract:
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In this study, we first define a measure of housing quality and gentrification based on the variables collected in the New York City Housing and Vacancy Survey (NYCHVS). Then, we investigate the relationship between the measure of housing quality and gentrification, and some of the behaviors of the resident in New York City. These behaviors include the tendency to move out the current residence, the likelihood in switching from renting to owning, or vice versa, etc. In addition to the housing quality and gentrification, we also identify other important factors that affect resident behaviors. Based on forecasting the changes in the housing quality and gentrification as well as those important factors using the past NYCHVS data, we predict the housing situation in New York City in the coming 5 years.
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