- Topic
How does the population of a city or town affect the home prices in that same area? How does the census affect how developers are going to act in their new projects?
- Motivation
The population is constantly growing, but I am still wondering how people afford homes. I wanted to see this relationship between population and home prices to see how the two variables are interacting.
- Background Info
I used Los Angeles and Connecticut because I wanted to compare the east and west coast. Connecticut also has a mix between suburbs and city, just like Los Angeles. They seemed to be a great matched pair to compare.
- Summary
As population increases, home prices decrease. There also seems to be more vacant homes when the population increases. Developers are responding to the influx of people. They also may be trying to make homes more affordable so more people can buy. Another relationship shows that as prices increase the average number of people living in a household decreases. This shows increasing inequality, the most expensive areas have the least number of people living in them, or that people are not moving to those places because they can't afford them.
- Shiny