This session will serve as an introduction to the new REMI endogenous resident adjustment (RA) equation, which illustrates how commuting patterns change over time in response to distance, housing prices, and the cost of living. Under this new methodology, for example, increasingly high housing prices in urban counties will encourage households to relocate to suburban and exurban areas and increase the volume of commuters over time. Similarly, transportation improvements can make it easier for members of the labor force to seek areas of lower housing prices, taxes, or costs of living while still participating in a metropolitan labor market.
The endogenous RA equation has a host of potential applications for transportation planning. They include forecasting future commuting trends, the impact to flows from new projects or changes in prices, and the movement of dollars from net-in counties to net-out counties in terms of commuting. We will illustrate these effects through an example from the Metro North commuter rail system, which runs between Manhattan and cities in southwestern Connecticut such as Norwalk, Bridgeport, and New Haven. Its expansion might encourage a greater share of commuters in from exurban cities towards downtown New York. This will show the transportation impact, as well as some potential housing or tax policy impacts from changing costs of living on the regional-level.
Finally, you will have a chance to engage in Q&A after the presentation.
This presentation will be approximately one hour in length, and we offer it at no charge via the Citrix GotoWebinar web conferencing platform. Advanced registration is required; please click on one of the links in the sidebar to register online.