We develop a life-cycle model to study the effects of house price changes on household consumption and welfare. The model explicitly incorporates the dual feature of housing as both a consumption good and an investment asset and allows for costly adjustments in housing and mortgage positions. Our analysis indicates that although house price changes have small aggregate effects, their consumptio...

We construct a quantitative equilibrium model of the housing market in which an unanticipated increase in the supply of housing triggers default mortgages via its e ect on house prices. The decline in house prices creates an incentive to increase the consumption of housing space, but leverage makes it costly for homeowners to sell their homes and buy bigger ones (they must absorb large capital ...

We study how a household borrowing constraint the the form of a down payment requirement affects house price dynamics in an OLG model with standard preferences. We find that in certain situations the borrowing constraint shapes house price dynamics substantially. The importance of the constraint depends very much on whether house price changes are driven by interest rate or aggregate income sho...

We show that a strong linear relationship exists between income and house price quantiles in Sydney (Australia), Houston, and the state of Texas. This suggests that the house price distribution is closely approximated by the income distribution after a location-scale transformation. The slope of the line changes over time in response to changes in the mortgage market. We argue that this finding...

Acoustical characteristics of a stage house and their effects on auditorium acoustics were investigated in a proscenium hall using computer simulation and scale models. The effects of a fly tower, the upper part of a stage house, were investigated with variable upper batten densities and covering materials. In addition, influences of the lower part of the stage house were examined by controllin...

In this paper, we propose a home monitoring, management, and communication system (HMMCS) with high-seed optical home network for a smart house in a smart city to optimize the energy usage and to create a comfortable environment. The HMMCS monitors the interior environment and the electricity consumption of all electric appliances. It also records log data, shares information and movies/images,...

The main objective of this article is to present the calibration process of a computer model of a naturally-ventilated house built in southern Brazil. The house was monitored over two seven-day periods by using Hobo data loggers. The EnergyPlus computer program was used to create a computer model for the house; parameters related to air infiltration and natural ventilation were modeled by using...

background : who focuses on developing health literacy (hl) referring to cognitive and social skills. our objectives were to develop a scale for evaluating the hl level of thai childhood overweight, and develop a path model of health behavior (hb) for preventing obesity. study design: a cross-sectional study. methods : this research used a mixed method. overall, 2,000 school students were aged ...

salinity of soil and water is the most important agricultural hazard in arid and semi-aridregions. in saline soils, yield production directly influences by soluble salts in the root zone aswell as by shallow water table depth. the first step for reclamation of such soils is reducingsalinity to optimum level by leaching. the objective of this study was to develop a practicalmodel to estimate wat...