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California EI monte house value analysis - Assignment Example

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California EI Monte House Value Analysis Date California EI Monte House Value Analysis 2 a. In case there are very high and low values in a particular data, results obtained can be highly varying. Therefore, we use median, which is a method that sorts data sets from the lowest to the highest data (Macfie & Nufrio, 2005)…
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Download file to see previous pages 2 b. Chatsworth has a median housing value, similar to that of the neighbouring regions. Housing values in the region, being similar to those in the neighbouring regions such as Los Angeles, reveal normal values. Despite the evenly distributed housing values in the area, the a few communities portray a higher housing value than the rest of the region. However, south region of Los Angeles had a higher level of income and a lower poverty level compared to the rest of the region. Despite this though, the region has similar housing values as the rest of the Chatsworth area. This means that these individuals are better off financially than the rest of the place. On the other hand, south Los Angeles people spend the biggest part of their incomes on housing, thus being poorer than the rest of the place. Poverty and insecurity are likely to be the biggest sources of tensions in the region, while considering their wages and kinds of neighbourhoods they live in. Since there is no major class difference in the region, these people are likely to suffer from welfare tensions. Due to the low wages of these people, and the nature of jobs that they do, coupled with the high expenditure on housing, leads to poor lifestyles and lower living conditions compared to their counterparts. Considering the kind of neighbourhood these people live in, there is a likelihood of insecurity in the region. Unlike these individuals though, people living in Chatsworth, living in better neighbourhoods and with better housing, are likely to enjoy more security. El Monte, a community with four major minority groups, appears more attractive to the young adults, meaning that it is a medium and low class city. Most of the people living in this region mostly are 30 years and below. Minorities living in this region include the White, Asian, or Pacific Islanders, Hispanic original White and multiple races. However, there has been a rise in the number of people of Hispanic origin (other race or multiple races). Since the young people are likely to be poor, either jobless or doing odd jobs, they tend to live in this city. To signify the level of poverty in the region, there are a decreasing number of white people and Asians living in the region. Perhaps, this is because as they grow old, these people acquire extra income or education and look for alternative and better neighbourhoods. Education, when used to describe the kind of people living in the region reveals that El Monte dwellers have poor educational levels since few hold bachelor’s degrees. As negligible percentage, hold any form of professional training. The highest numbers of people in this region are yet to achieve their high school degrees. This number has considerably kept growing in the past 10 years. However, there has been a slow growth in the number of university graduates in Monte. There is a considerable decrease in the number of the old people living in the area, especially the ageing. While there are hardly any people over 55 years, thus number keeps diminishing considerably between the ages 22 and 35 years. The demographics of this region reveal that there is a lower likelihood of people buying houses in the region. People at their tender ages cannot buy houses; argue Janjua & Kamal (2011). Due to their low educational standards and lack of good ...Download file to see next pagesRead More
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