Project 1 Group_3

Project 1: Housing Market

Names: Juhi, Kesha, Austin, Hima, and Lora

Executive Summary

We came into this project curious about trends in the housing market as it has become a common talking point in society today. We looked to see what those trends are, how they correlate with one another, and what information we could extrapolate from them. We looked at various datasets of information collected over the last half century, and we were able to find fairly conclusive data in a number of areas. We were able to find very conclusive data specifically in regards to the change in household income relative to the changes in the House Price Index and the Consumer Price Index over that period of time. Both Housing Price Index and Consumer Price Index have increased at a sizable rate, while the median household income (once adjusted for inflation) has increased substantially less. That information gives us clear indication of why there are a decreasing number of homeowners in the United States today.

Tasks:

1. Maintaining the READ.me and GitHub - Austin

2. Cleaning CSV files and Creating Data Frames - Austin

3. Merging Monthly & Annual Market Factors Data Frames - Kesha

4. Developing Visualizations:

        House Price/Mortgage Rate:
   
        1. House Price vs. Mortgage Rate - Juhi
   
        Market Factors:
   
        2. Real Disposable Income and Unemployment Rate - Lora
   
        3. House Price Index and Mortgage Rate - Hima
   
        4. GDP and Mortgage Rate - Kesha
   
        5. GDP and House Price Index - Kesha
   
        6. Unemployment Rate and House Price Index (Annual csv) - Austin
   
        7. Consumer Price Index and House Price Index (Annual csv) - Austin
   

5. Slides on Google Presentation - Everyone

6. Graphic design on Google Presentation (make cohesive)- Lora and Juhi

7. Post-Development Analysis Write-Up - Everyone

8. Practice Presentation - Everyone

Datasets:

1. Market factors

Monthly_Macroeconomic_Factors.csv

Annual_Macroeconomic_Factors.csv

2. House price vs. mortgage rate

US House Price and Mortgage Rate.csv

Questions:

1. Is there a correlation between house price and mortgage rate?

Methods: create a scatter plot, calculate the r value, develop a linear regression line

Dataset: House price vs. mortgage rate

2. How are the following macroeconomic factors associated with each other? Unemployment Rate, Real Disposable Income, House Price Index, Mortgage Rate, Inflation, Consumer Price Index, GDP

Method: Plot on a line graph the following macroeconomic factors and look at the graphs and make conclusions

Dataset: Market factors

3. What do our comparisons tell us, and how are they related to household income?

Method: Track the percent increase for household income and compare it to the percent increase of other relevant macroeconomic factors

Dataset: Market factors

Sources: US Census Bureau

Slideshow

https://docs.google.com/presentation/d/1VjJd-6uUHP2fJd2yTdiUoRfl67-I4iST5M1LF6jaNUY/edit?usp=sharing

Post-Development Analysis

https://docs.google.com/document/d/1RniBJGccAdN6QW1GM5eY-aHmIGDY2WgbfKDqyKEA6E8/edit?usp=sharing