Browsing by Author "Choi, Seungbee"

Now showing 1 - 8 of 8
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    2024 West Piedmont Planning District Commission Housing Study
    Jones, Mel; Choi, Seungbee; Knopf, Jonathan; Mai, Eric (West Piedmont Planning District Commission, 2024-01)
    West Piedmont Planning District Commission (WPPDC) undertook this housing study in partnership with the Virginia Center for Housing Research at Virginia Tech (VCHR) and HousingForward Virginia (HFV). PDCs serve member local governments within their region and build regional approaches to issues like economic development, transportation, and legislative priorities. The West Piedmont Planning District’s member localities are: Franklin, Henry, Patrick, and Pittsylvania Counties; the Cities of Danville and Martinsville; and the Town of Rocky Mount. Each member locality identified housing as a concern in their jurisdiction and with the opportunities offered through Virginia Housing, elected to conduct a regional housing study.
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    Effects of Top-Down Balanced Development Strategies on Regional Balance: Evidence from Public Big Data in Korea
    Yoo, Yejin; Choi, Seungbee (MDPI, 2022-12-05)
    The rapid economic growth of Korea was accompanied by the side effect of disproportionate growth between regions. The central government has implemented balanced development strategies by enacting the Special Act on Balanced National Development. For example, central administrative institutions were relocated to Sejong-si, which was built as the administrative capital. This study examines whether the top-down strategy promoted balanced growth between regions using public big data. We use various indicators to pay attention to not only quantitative growth, such as population size and economic growth, but also qualitative growth, such as life satisfaction. The results show that, despite the government’s efforts, the population was concentrated in the major metropolitan areas and the economic gap between regions did not narrow. While metropolitan areas achieved steady growth based on the preemption of spatial competitiveness, non-metropolitan areas did not take advantage of more investment from government. However, it shows a significant increase in job creation in Sejong-si, suggesting it is more efficient to move institutions in groups than to completely disperse public institutions in the balanced development strategy. In terms of the quality of life, Sejong-si had the lowest personal life satisfaction and local life satisfaction, indicating that the top-down strategy has failed to manage the quality of life. We propose that promoting a compact city with multiple functions in the non-metropolitan areas will help balance development. To achieve a better quality of life, centralized power should be transferred to local governments, and policies should be built based on communication with local residents. Innovative and sustainable policies that efficiently utilize the uniqueness and potential of the region are needed for balanced growth.
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    Exploring the Survival Mechanisms of Short-Term Rentals in Virginia: A Comparative Analysis of Rural versus Non-Rural Markets
    Choi, Seungbee; Won, Jongho (MDPI, 2023-08-21)
    This study provides a comprehensive analysis of the survival mechanisms of STRs in Virginia, particularly focusing on rural versus non-rural markets. Utilizing data from AirDNA, we observe 16,852 active listings from 2018 to 2022. The study identifies the influence of various factors on STR longevity, including unit type, location, and the number of bedrooms. It is a unique attempt to bridge the gap in understanding the dynamics of short-term rentals (STRs) in rural and urban contexts. Our findings reveal differences in the survival patterns of STRs in rural versus non-rural markets. In particular, rural STRs exhibit higher survival probabilities compared to their non-rural counterparts. Furthermore, Full-Time STRs, which are primarily dedicated to short-term rentals, show significantly higher survival probabilities than Occasional STRs, regardless of their location. These findings serve as critical inputs for stakeholders involved in policymaking, regulation, and industry strategies. By highlighting the distinctive dynamics of rural and urban STR markets, we underscore the need for context-specific regulations that can balance the economic benefits of STRs with the preservation of local housing options.
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    Housing Needs and Trends in Central Appalachia and Appalachian Alabama
    Jones, Mel; Eades, Daniel; Choi, Seungbee (Fahe, 2023-07-20)
  • Randolph County Housing Study
    Jones, Mel; Eades, Daniel; Choi, Seungbee (2023-04)
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    State of the Market and Local Policy: Accessory Dwelling Units in the Commonwealth of Virginia
    Clower, Terry L.; Waters, Keith; Eisel, Valrie; Versel, David; Benson, Brien; Jones, Mel; Choi, Seungbee; Knof, Jonathan; Mai, Eric (Accessory Dwelling Unit Stakeholders Advisory Group, 2021-11)
    The following reports the findings of a data and information gathering exercise to provide the Accessory Dwelling Unit Stakeholder Advisory Group (SAG) and the Virginia Department of Housing and Community Development (DHCD) input on key issues related to accessory dwelling units (ADUs) in the Commonwealth of Virginia. The work performed in this analysis and the SAG was implemented pursuant to House Bill 2053.
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    Trajectories of Individual Behavior in the US Housing Market
    Choi, Seungbee (Virginia Tech, 2022-06-06)
    Three essays in this dissertation explore the behavior of individuals in response to the housing crisis and its consequences, and the impact of the pandemic on the short-term rental markets. The first essay examines the economic outcomes of young people who have returned to their parents' home, using data from 2003-2017 waves of the National Longitudinal Survey of Youth 1997 Cohort (NLSY 97). The economic outcomes of boomerang movers did not improve compared to the period of independent living, and the income gap with young people who remained independent widened. The residential movement of young people who make boomerang moves has an impact on their income, but this effect is short-lived. Going back to a parental house changes the region and urban form significantly, and movement of urban form from the central city to the suburban and from the suburban to out of the MSA has a negative impact on income. Findings from the study suggest implications. First, more affordable housing should be provided to reduce boomerang moves. Second, ways to increase job opportunities should be explored to reduce the short-term negative impact of boomerang move. Finally, education and vocational training opportunities must be increased to close the income gap among young people. The second essay seeks to answer the following questions through the experiences of individual households due to the foreclosure. First, did foreclosed households regain homeownership? Second, is there a relationship between socio-demographic characteristics of foreclosed household and regaining homeownership? Third, where do homeowners who have lost their homes migrate? Finally, what characteristics of the neighborhood help foreclosed households recover? While previous studies have focused on the resilience of housing markets and regions, this study explores the link between regional characteristics and individual household recovery. The recovery of financially disadvantaged households is an important issue for communities and states. Identifying the mechanism that is responsible for household recovery has implications for implementing programs to aid household recovery. This study primarily relies on the 2005 -2019 Panel Study of Income Dynamics (PSID). Since 2009, PSID has added survey questions about foreclosure; Whether a foreclosure process has begun, the year and month of the start, the result of the process, and whether a foreclosed home is a primary residence. The findings of this study suggest that the government's recovery assistance program should aim to support relocation to areas with lower poverty rates and higher job and educational opportunities. The final essay explores changes in short-term rentals resulting from the COVID-19 pandemic. To identify the impact of the COVID-19 pandemic, this study uses New York City's Airbnb listing data from Inside Airbnb (IA), as well as supplemental data such as American Community Survey (ACS) data. Change in the number of STRs is divided into (1) the number of units left the platform and (2) the number of new units. The former relates to the survival of existing STR units and, the latter to the location choice of new units. The results show that the impact of several variables on survival and generation mechanisms changed since the COVID-19 pandemic. Since the survival mechanism and the generation mechanism of short-term rentals are different, they should be considered separately in regulating the STR to stabilize local housing markets.
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    Virginia Beach Housing Study Update: Market Analysis and Policy Recommendations
    Jones, Mel; Choi, Seungbee; Goldberg-Foss, Mark; Knopf, Jonathan (City of Virginia Beach, 2024-01)
    Virginia Beach’s housing market has progressed since 2016, showing both positive growth and emerging challenges. Home prices are rising yet remain reasonably accessible. The pace of sales and vacancy rates indicates market balance. However, increasing market tightness presents challenges, notably the scarcity of affordable homes for low-income families. The study outlines these trends and proposes policy solutions to ensure housing opportunities for all.