Decline in House Prices Slows Down; District Still Faring Better than Nation
The Eighth Federal Reserve District is composed of four zones, each of which is centered around one of the four main cities: Little Rock, Louisville, Memphis and St. Louis.
Should real estate prices be falling more in the eighth district
House prices in the Eighth District also appreciated over the period, but the boom/ bust process was less-pronounced. House prices in the Eighth District increased 40 percent to a peak in the first quarter of 2008 and have fallen roughly 5 percent since then. By partly avoiding the sharp decline in prices experienced in other areas, it appears that the District has fared better than the nation.1 Has it? Prices that don’t fall aren’t always a good sign. The labor market is a useful example of this. One of the most controversial puzzles in macroeconomics is why wages (real and nominal) do not fall more during recessions in reaction to high unemployment. Under some conditions, falling wages would reduce unemployment and improve economic efficiency in downturns.2 Vacant real estate properties can be partly thought of as unemployed workers. These properties are resources ready to be put to some kind of use. As another step toward determining whether Eighth District real estate markets are faring better than the nation’s, it is informative to look at the behavior of vacancies. How large is the fraction of vacant home and business structures in the Eighth District? How does that fraction compare with the rest of the nation’s? How has this fraction behaved over the real estate boom and bust? This District Overview uses several data sources that complement one another in order to answer these questions.
Collaborative Aircraft Design Methodology using ADAS linked to CEASIOM
The aircraft design stages, conceptual and preliminary, are necessarily collaborative bytheir very nature. An example design carried out in this paper brings the collaborativeaspects of design to l ...