By Grant Ian Thrall
This paintings specializes in integrating land-use position technology with the expertise of geographic info structures (GIS). The textual content describes the fundamental ideas of place determination and the skill for making use of them as a way to enhance the true property choice.
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Therefore, it is more compelling for the low-income household to locate near those places of desired or required access than it is for a middle-income or high-income household. If the low-income household shifts to a public mode of transportation, it can dramatically lower the percentage of income allocated to transportation. However, this constrains low-income households to locate in places with superior access to public transportation. Those places are often at the city center or other important urban node where public transportation lines merge.
Consider a household located in the high population density submarket of an urban downtown. Those households' yard may consist of a few square feet of balcony. The introduction of a park nearby will substantially increase their well-being because they otherwise lack open space. Going from a position of scarcity of a desirable good to availability of that good will greatly increase the households' well-being. Because the desirability of residing at the urban downtown location has increased, property values will increase.
A homebuilder or retail developer or office building developer must be aware of where the households are that they want to target with their products and ensure that their product is geographically positioned to accommodate and attract that target population. From another standpoint, someone who owns land at a given location must realistically evaluate the demographic composition around that location, including drive-time demographic studies, so that a realistic development profile of the property can be created.