Exploratory Data Analysis on Unaffordable Housing Problem: Predicting a Sample of Amsterdam’s Private Market Rental Prices using Hierarchical Bayesian Models

The “affordability of housing” is generally defined as affordable housing for those with median household income (Eurostat, 2018). If not addressed effectively by policymakers, the unaffordable housing gap is expected to affect 1.6 billion people around the world by the year 2025 (McKinsey, 2014). The unaffordable housing in Amsterdam...