Gentrification and Neighborhood Housing Cycles: Will America’s Future Downtowns Be Rich?

This paper identifies a new factor, the age of the housing stock, that affects where high- and low-income neighborhoods are located in U.S. cities. High-income households, driven by a high demand for housing services, will tend to locate in areas of the city where the housing stock is relatively young. Because cities develop and redevelop from the center outward over time, the location of these neighborhoods varies over the city’s history. The model predicts a suburban location for the rich in an initial period, when young dwellings are found only in the suburbs, while predicting eventual gentrification once central redevelopment creates a young downtown housing stock. Empirical work indicates that if the influence of spatial variation in dwelling ages were eliminated, longstanding central city/suburban disparities in neighborhood economic status would be reduced by up to 50 percent. Model estimates further predict that between 2000 and 2020, central-city/suburban differences in economic status will widen somewhat in smaller cities but narrow sharply in the largest American cities as they become more gentrified.

Gentrification and Neighborhood Housing Cycles: Will America's Future Downtowns be Rich?

This paper identifies a new factor, the age of the housing stock, that affects where high- and low-income neighborhoods are located in U.S. cities. High-income households, driven by a high demand for housing services, will tend to locate in areas of the city where the housing stock is relatively young. Because cities develop and redevelop from the center outward over time, the location of these neighborhoods varies over the city’s history. The model predicts a suburban location for the rich in an initial period, when young dwellings are found only in the suburbs, while predicting eventual gentrification once central redevelopment creates a young downtown housing stock. Empirical work indicates that if the influence of spatial variation in dwelling ages were eliminated, longstanding central city/suburban disparities in neighborhood economic status would be reduced by up to 50 percent. Model estimates further predict that between 2000 and 2020, central-city/suburban differences in economic status will widen somewhat in smaller cities but narrow sharply in the largest American cities as they become more gentrified.spatial expansion of cities, housing cycles, urban expansion

Subprime mortgages and the housing bubble

This paper explores the link between the house-price expectations of mortgage lenders and the extent of subprime lending. It argues that bubble conditions in the housing market are likely to spur subprime lending, with favorable price expectations easing the default concerns of lenders and thus increasing their willingness to extend loans to risky borrowers. Since the demand created by subprime lending feeds back onto house prices, such lending also helps to fuel an emerging housing bubble. The paper, however, focuses on the reverse causal linkage, where subprime lending is a consequence rather than a cause of bubble conditions. These ideas are illustrated in a theoretical model, and empirical work tests for a connection between price expectations and the extent of subprime lending.Subprime mortgage ; Global financial crisis

Gentrification and neighborhood housing cycles : will America's future downtowns be rich?

This paper identifies a new factor, the age of the housing stock, that affects where high- and low-income neighborhoods are located in U.S. cities. High-income households, driven by a high demand for housing services, will tend to locate in areas of the city where the housing stock is relatively young. Because cities develop and redevelop from the center outward over time, the location of these neighborhoods varies over the city's history. The model predicts a suburban location for the rich in an initial period, when young dwellings are found only in the suburbs, while predicting eventual gentrification once central redevelopment creates a young downtown housing stock. Empirical work indicates that if the influence of spatial variation in dwelling ages were eliminated, longstanding central city/suburban disparities in neighborhood economic status would be reduced by up to 50 percent. Model estimates further predict that between 2000 and 2020, central-city/suburban differences in economic status will widen somewhat in smaller cities but narrow sharply in the largest American cities as they become more gentrified

Gentrification and Neighborhood Housing Cycles: Will America\u27s Future Downtowns be Rich?

This paper identifies a new factor, the age of the housing stock, that affects where high- and low-income neighborhoods are located in U.S. cities. High-income households, driven by a high demand for housing services, will tend to locate in areas of the city where the housing stock is relatively young. Because cities develop and redevelop from the center outward over time, the location of these neighborhoods varies over the city\u27s history. The model predicts a suburban location for the rich in an initial period, when young dwellings are found only in the suburbs, while predicting eventual gentrification once central redevelopment creates a young downtown housing stock. Empirical work indicates that if the influence of spatial variation in dwelling ages were eliminated, longstanding central city/suburban disparities in neighborhood economic status would be reduced by up to 50 percent. Model estimates further predict that between 2000 and 2020, central-city/suburban differences in economic status will widen somewhat in smaller cities but narrow sharply in the largest American cities as they become more gentrified

Measuring the Hausdorff Dimension of Quantum Mechanical Paths

We measure the propagator length in imaginary time quantum mechanics by Monte Carlo simulation on a lattice and extract the Hausdorff dimension $d_{H}$. We find that all local potentials fall into the same universality class giving $d_{H}=2$ like the free motion. A velocity dependent action ($S \propto \int dt \mid \vec{v} \mid^{\alpha}$) in the path integral (e.g. electrons moving in solids, or Brueckner's theory of nuclear matter) yields $d_{H}=\frac{\alpha }{\alpha - 1}$ if $\alpha > 2$ and $d_{H}=2$ if $\alpha \leq 2$. We discuss the relevance of fractal pathes in solid state physics and in $QFT$, in particular for the Wilson loop in $QCD$.Comment: uuencoded and compressed shell archive file. 8 pages with 7 figure

Report from solar physics

A discussion of the nature of solar physics is followed by a brief review of recent advances in the field. These advances include: the first direct experimental confirmation of the central role played by thermonuclear processes in stars; the discovery that the 5-minute oscillations of the Sun are a global seismic phenomenon that can be used as a probe of the structure and dynamical behavior of the solar interior; the discovery that the solar magnetic field is subdivided into individual flux tubes with field strength exceeding 1000 gauss. Also covered was a science strategy for pure solar physics. Brief discussions are given of solar-terrestrial physics, solar/stellar relationships, and suggested space missions

Clinical Experience with the PillCam Patency Capsule prior to Video Capsule Endoscopy: A Real-World Experience

Background. In patients with known or suspected risk factors for gastrointestinal stenosis, the PillCam patency capsule (PC) is given before a video capsule endoscopy (VCE) in order to minimize the risk of capsule retention (CR). CR is considered unlikely upon excretion of the PC within 30 hours, excretion in an undamaged state after 30 hours, or radiological projection to the colon. Methods. We performed a retrospective analysis of 38 patients with risk factors for CR, who received a PC from 02/2013 to 04/2015 at Klinikum Augsburg. Results. Sixteen of our 38 patients observed a natural excretion after a mean time of 34 hours past ingestion. However, only 8 patients observed excretion within 30 hours, as recommended by the company. In 20 patients passage of the PC into the colon was shown via RFID-scan or radiological imaging (after 33 and 45 hours, resp.). Only 2 patients showed a pathologic PC result. In consequence, 32 patients received the VCE; no CR was observed. Conclusion. Our data indicates that a VCE could safely be performed even if the PC excretion time is longer than 30 hours and the excreted PC was not screened for damage

The Case for Social Enterprise

The bottom of the pyramid (BoP) approach popularised Prahalad (2004) as well as other writers such as Hart (2005) and London (2007), calls for the engagement of business with the bottom segment of the global income pyramid, and has attracted considerable attention and debate. The BoP lens is applied chiefly to communities experiencing ‘extreme poverty’ in low income countries with little reference to the growing number of people living in ‘relative poverty’ in high income countries. For the purpose of stimulating academic debate this paper seeks to explore the role of the so-called fourth sector, a domain for hybrid business ventures of social (and, in the case of this paper, Indigenous) entrepreneurs, at what we refer to as ‘the bottom at the top of the income pyramid’ in Australia. Using examples of Indigenous and social entrepreneurship within disadvantaged communities, we seek to highlight the scope for fourth sector enterprises at the lower end of the income spectrum within developed countries. It is suggested that the business models found within the fourth sector offer promising, alternative approaches for addressing the economic as well as social and cultural needs of those living on the fringes of today’s increasingly fragmented high-income societies

Exact Treatment of the Pauli Exclusion Operator in Nuclear Matter Calculation

Exact expressions of the Pauli exclusion operator Q in the nuclear matter calculation are presented in detail. Exact formulae are also given for the calculations of the single-particle-potential energy and the binding energy per nucleon with the exact Q operator. Numerical calculations of the G matrix in the lowest-order Brueckner theory are carried out to check the reliability of the standard angle-average approximation for the Q operator by employing the Bonn B and C NN potentials. It is observed that the exact treatment of the operator Q brings about non-negligible and attractive contributions to the binding energy.Comment: 16 pages, 3 figure