Housing Market Model

globals[
  gini-index-reserve
  lorenz-points num-hholds
  cprice
  dp%
  stock-price

  salesfinalized
  foreclosedhomes]

breed[houses house] ; houses
houses-own [status foreclosed? forsale? rentprice occupant owner mortgage taxprice price askingprice bidlist tenure]

breed[loans loan] ; loans
loans-own [lender borrower cost remain intrate payment timeleft kind missedpayments asset]

;;;

breed[banks bank] ; commercial/retail bank
banks-own [firmbonds firmcredit hhmortgages hhcredit hhdeposits gbonds bbonds bankdeposits foreclosureproceeds currentaccount capitalaccount fbinterest fcinterest bdinterest hhminterest hhcinterest hhdinterest gbinterest bbinterest revenue expenses profit taxwithholdings bankdividends loanlist badloans]

breed[cbanks cbank] ; central bank
cbanks-own [gbonds bbonds bankdeposits gbinterest bbinterest bdinterest currentaccount revenue expenses profit taxwithholdings loanlist badloans]

breed[firms firm] ; consumption producing firms
firms-own [firmbonds firmcredit fbinterest fcinterest currentaccount wages fiscalspending consumption revenue expenses profit taxwithholdings bankdividends dividends employeelist loanlist]

breed[hholds hhold] ; households
hholds-own [status currentaccount hhmortgages hhcredit hhdeposits hhminterest hhmpayment hhcinterest hhdinterest consumption wages dividends capitalgains rentexpense rentincome income expenses taxwithholdings capitalaccount maxaffordability houselist renthouselist currentbidhouse currentbid loanlist stockowned]

breed[governments government]
governments-own[taxescollected cbprofits fiscalspending gbonds gbinterest currentaccount revenue expenses loanlist]

to set-up
  clear-all
  reset-ticks
  ask patches [set pcolor blue]

  init-houses
  init-agents

  setup-hholds
  setup-firms


  update-houses
  update-lorenz-and-gini
end 

to go
  tick

  set foreclosedhomes 0

  ;QUARTERLY ACTIONS
  hholds-quarterly
  banks-quarterly
  firms-quarterly
  governments-quarterly

  ;MONTHLY ACTIONS
  repeat 3 [ ; three months in a quarter
    banks-interact
    government-interact
    firms-interact
    households-interact

    update-houses
  ]
  update-lorenz-and-gini
end 

to init-houses
  set-default-shape houses "house"
  ask patches [
    sprout-houses 1]
  ask houses[
    set status "vacant"
    set occupant 0
    set owner 0
    set forsale? false
    set foreclosed? false
    set tenure 0
    set price 75000 + (3000 * count houses in-radius 3)
    set taxprice .9 * price
    set askingprice taxprice
    set rentprice taxprice * rentportion
    set bidlist (list)
    set mortgage 0] ; FIX LATER TO RANDOMIZE MORTGAGES
  update-houses
end 

to init-agents
  create-hholds (.95 * count houses) [set hidden? true
  set loanlist (list)]
  create-cbanks 1 [set hidden? true
  set loanlist (list)]
  create-banks 1[
    set hidden? true
  set loanlist (list)]

  create-governments 1 [set hidden? true
  set loanlist (list)]
  create-firms 1 [set hidden? true
  set loanlist (list)]
end 

to setup-hholds
  ask hholds [
    set status "homeless"
    set consumption .01 * wealth
    set rentexpense 0
    set currentaccount 20000
    set wages exp (random-normal 8.4 .3)
    set houselist (list)]

  ask houses [
    let temphouse self
    ask one-of hholds [
      set houselist lput temphouse houselist
      ask temphouse [set owner myself]]

    ;set up the random mortgages
    let thishouse self

    let myowner owner
    let myprice price
    let mymortgage 0

    ask myowner [ ; take out loan (mortgage) for the house
      let mortgagerate (cbankrate + .03) / 12

      let loanamount .8 * myprice

      if loanamount > 0 [
        hatch-loans 1 [
          set mymortgage self
          set lender one-of banks
          set borrower myself
          set cost loanamount
          set intrate mortgagerate
          set timeleft random 360
          set payment loanamount * (mortgagerate * ((1 + mortgagerate) ^ 360) / (((1 + mortgagerate) ^ 360) - 1))

          set remain ((cost * ((1 + mortgagerate) ^ timeleft)) - (payment * ((((1 + mortgagerate) ^ timeleft) - 1) / mortgagerate)))
          let tempremain remain

          set asset thishouse

          set kind "hhmortgage"

          ask lender [
            set hhmortgages hhmortgages + tempremain
            set capitalaccount capitalaccount - loanamount
            set loanlist lput myself loanlist]
          ask borrower [
            set hhmortgages hhmortgages + tempremain
            set loanlist lput myself loanlist]]]]


    set owner myowner

    set mortgage mymortgage

    set rentprice taxprice * rentportion]


  ask hholds [
    set houselist sort-on [(- prestige)] (turtle-set houselist)

    if empty? houselist = false [
      ask first houselist [
        set occupant myself
        set tenure 0
        set status "homeowner"]
      set status "homeowner"]]

  repeat 10000[
    ask one-of hholds [
      set stockowned stockowned + 1]]
end 

to setup-firms
  ask firms [
    set currentaccount (exp (random-normal 13.1 .5))
  ]
end 

;QUARTERLY ACTIONS

to hholds-quarterly
  set salesfinalized 0

  ask houses with [forsale? = true][
    let mybidderlist sort-on [(- currentbid)] bidlist
    ifelse empty? mybidderlist = false [
      let thishouse self
      set mybidderlist sort-on [(- currentbid)] bidlist
      let currentowner owner
      if foreclosed? = true [
        set currentowner one-of banks]
      let currentresident occupant
      let currentprice price
      let newowner first mybidderlist
      let newprice [currentbid] of newowner
      let newmortgage 0

      show currentowner

      ask newowner [ ; take out loan (mortgage) for the house
        let mortgagerate (cbankrate + .03) / 12
        let maxpayment income - expenses
        if maxpayment > debttoincome * income [set maxpayment debttoincome * income]

        set maxpayment maxpayment - (hhmpayment + hhcinterest)

        let maxloan maxpayment / (mortgagerate * ((1 + mortgagerate) ^ 360) / (((1 + mortgagerate) ^ 360) - 1))

        if maxloan > (capitalaccount / min-dpay) [set maxloan (capitalaccount / min-dpay)]

        let loanamount maxloan
        let downpayment currentprice - loanamount

        set capitalaccount capitalaccount - downpayment ; will pay the old owner this + loanamount from bank
        set hhdeposits hhdeposits - downpayment

        ask banks [
          set hhdeposits hhdeposits - downpayment
          set capitalaccount capitalaccount - downpayment]

        if loanamount > 0 [
          hatch-loans 1 [
            set newmortgage self
            set lender one-of banks
            set borrower myself
            set cost loanamount
            set remain loanamount
            set intrate mortgagerate
            set asset thishouse
            set payment loanamount * (mortgagerate * ((1 + mortgagerate) ^ 360) / (((1 + mortgagerate) ^ 360) - 1))
            set timeleft 360
            set kind "hhmortgage"
            set missedpayments 0
            ask lender [
              set hhmortgages hhmortgages + loanamount
              set capitalaccount capitalaccount - loanamount
              set loanlist lput myself loanlist]
            ask borrower [
              set hhmortgages hhmortgages + loanamount
              set loanlist lput myself loanlist]]]

        set houselist lput myself houselist]

      ifelse foreclosed? = false [
        ask currentowner [
          set currentaccount currentaccount + newprice
          set capitalgains capitalgains + (newprice - currentprice)

          if [status] of thishouse = "homeowner" and [tenure] of thishouse > 24 [
            set capitalgains capitalgains - 250000]

          set houselist remove myself houselist
          if status = "homeowner" [
            set status "homeless"]]][;if it is foreclosure then the bank gets the money
        ask currentowner [
          set currentaccount currentaccount + newprice
          set foreclosureproceeds foreclosureproceeds + newprice
      ]]
      if status = "homeowner" [
        set status "vacant"
        set occupant 0]

      set owner newowner
      set forsale? false

      set salesfinalized salesfinalized + 1

      if mortgage != 0 [
        ask mortgage [

          let tempremain remain
          ask lender [
            set capitalaccount capitalaccount + tempremain
            set hhmortgages hhmortgages - tempremain
            set loanlist remove myself loanlist]
          ask borrower[
            set currentaccount currentaccount - tempremain
            set hhmortgages hhmortgages - tempremain
            set loanlist remove myself loanlist]
          die]]

      set mortgage newmortgage

      set foreclosed? false

      ask bidlist [
        set currentbidhouse 0
        set currentbid 0]

      set bidlist (list)

      set price newprice
      set taxprice price * .9
      set rentprice taxprice * rentportion][;if nobody in list, decrease price by 5%
      set askingprice askingprice * .95]] ;

      ;if it's the most prestigious house they own, then the new owner will move into it (or will do in another section)

  show (word "Sales Finalized: " salesfinalized)

  ask hholds [
    ;move into their highest prestige house, or into a home they own (if renter)

    if status = "landlord" [
      if length houselist > 1 [

        let myhomes sort-on [(- prestige)] turtle-set houselist

        let newhome first myhomes

        if [status] of newhome = "renter" [
          let oldhome houses with [occupant = myself]
          let newoccupant self
          let oldoccupant [occupant] of newhome

          ask oldoccupant [
            set status "homeless"
            set rentexpense 0]

          ask oldhome [
            set tenure 0
            set status "vacant"
            set occupant 0]

          ask newhome [
            set tenure 0
            set status "homeowner"
            set occupant newoccupant]]

        if [status] of newhome = "vacant" [
          let oldhome houses with [occupant = myself]
          let newoccupant self

          ask oldhome [
            set tenure 0
            set status "vacant"
            set occupant 0]

          ask newhome [
            set tenure 0
            set status "homeowner"
            set occupant newoccupant]]]]

    if status = "homeowner" [
      if length houselist > 1 [

        let myhomes sort-on [(- prestige)] turtle-set houselist

        let newhome first myhomes

        if [status] of newhome = "renter" [
          let oldhome houses with [occupant = myself]
          let newoccupant self
          let oldoccupant [occupant] of newhome

          ask oldoccupant [
            set status "homeless"
            set rentexpense 0]

          ask oldhome [
            set tenure 0
            set status "vacant"
            set occupant 0]

          ask newhome [
            set tenure 0
            set status "homeowner"
            set occupant newoccupant]]

        if [status] of newhome = "vacant" [
          let oldhome houses with [occupant = myself]
          let newoccupant self

          ask oldhome [
            set tenure 0
            set status "vacant"
            set occupant 0]

          ask newhome [
            set tenure 0
            set status "homeowner"
            set occupant newoccupant]]]]


    if status = "renter" [
      if empty? houselist = false [
        let newhome first houselist

        if [status] of newhome = "renter" [
          let oldhome houses with [occupant = myself]
          let newoccupant self
          let oldoccupant [occupant] of newhome

          ask oldoccupant [
            set status "homeless"
            set rentexpense 0]

          ask oldhome [
            set tenure 0
            set status "vacant"
            set occupant 0]

          ask newhome [
            set tenure 0
            set status "homeowner"
            set occupant newoccupant]]

        if [status] of newhome = "vacant" [
          let oldhome houses with [occupant = myself]
          let newoccupant self

          ask oldhome [
            set tenure 0
            set status "vacant"
            set occupant 0]

          ask newhome [
            set tenure 0
            set status "homeowner"
            set occupant newoccupant]]

        set status "homeowner"]]








    ;list properties for sale

    set expenses (taxwithholdings / 3) + hhmpayment + consumption + rentexpense

    if hhcredit > 0 [
      if empty? houselist = false [
        if not any? (turtle-set houselist) with [forsale? = true][
          let temphouselist but-first houselist
          ifelse empty? temphouselist = false [ ;sell an investment property
            ask one-of temphouselist [
              set forsale? true
              set askingprice taxprice]][;sell their home
            ask one-of houselist [
              set forsale? true
              set askingprice taxprice]]]]]


    set currentbidhouse 0

    ;create list of properties each hhold can afford, list by prestigiousness
    if capitalaccount > 0 [
      ;;figure out how much they can afford 1) loan portion should be either the rest of the portion after paying downpayment or the most they can make payments on and 2) the current state of their capitalaccount
      let maxpayment income - expenses
      if maxpayment > .4 * income [set maxpayment .4 * income]

      let mortgagerate (cbankrate + .03) / 12
      let maxloan maxpayment / (mortgagerate * ((1 + mortgagerate) ^ 360) / (((1 + mortgagerate) ^ 360) - 1))

      if maxloan > (capitalaccount / min-dpay) [set maxloan (capitalaccount / min-dpay)]

      set maxaffordability maxloan + capitalaccount
      let tempmax maxaffordability

      let purchaselist sort-on [(- prestige)] (houses with [askingprice < tempmax and forsale? = true])

      ;take this list and bid randomly on one of the top 5

      if empty? purchaselist = false [
        let randomnumber 5
        if length purchaselist < 5 [set randomnumber length purchaselist]

        set currentbidhouse item (random randomnumber) purchaselist]]

  ;; the top bidder will get the house next turn, and the other bidders will have to look for another house to buy

  ;will look for new apartment if the current one is too expensive and cannot afford home
    if status = "homeless" [
      let myincome income

      let mylist houses with [status = "vacant" and owner != 0]
      let lowcostlist sort-on [(- prestige)] mylist with [rentprice < .3 * myincome]
      let mediumcostlist sort-on [(- prestige)] mylist with [rentprice >= (.3 * myincome) and rentprice <= (.4 * myincome)]
      let highcostlist sort-on [(- prestige)] mylist with [rentprice > (.4 * myincome) and rentprice < (1 * myincome)]

      let myrenthouse 0
      ifelse empty? mediumcostlist = false [ ;move into first of this list
        set myrenthouse first mediumcostlist
      ][;check lowcostlist
        ifelse empty? lowcostlist = false [ ;move into first of this list
          set myrenthouse first lowcostlist
        ][;move into the highcostlist
          if empty? highcostlist = false [
            set myrenthouse first highcostlist
      ]]]


      if myrenthouse != 0 [;if the housing lists showed something acceptable
        ask myrenthouse [
          set occupant myself
          set status "renter"
          set tenure 0]
        set status "renter"
        set rentexpense [rentprice] of myrenthouse]]

    if status = "homeowner" [
      let myhouses turtle-set houselist
      if any? myhouses with [status = "renter"] [
        set status "landlord"]]

    if status = "landlord" [
      let myhouses turtle-set houselist
      if not any? myhouses with [status = "renter"][
        set status "homeowner"]]
  ]
end 

to banks-quarterly
  ; pay dividends to firms
  ask banks [
    if bankdividends > 0 [
      let tempdividends bankdividends
      set currentaccount currentaccount - tempdividends
      ask firms [
        set currentaccount currentaccount + tempdividends
        set bankdividends tempdividends]]]
end 

to firms-quarterly
  ;turn short-term financing into long-term financing
  ask firms [
    if firmcredit > 0 [
      let bondamount firmcredit
      let interestrate (cbankrate + .04) / 12
      hatch-loans 1 [
        set lender one-of banks
        set borrower myself
        set cost bondamount
        set remain bondamount
        set intrate interestrate
        set payment (intrate / 12) * bondamount
        set timeleft 60
        set kind "firmbonds"
        ask lender [
          set firmcredit firmcredit - bondamount
          set firmbonds firmbonds + bondamount
          set loanlist lput myself loanlist]
        ask borrower [
          set firmcredit firmcredit - bondamount
          set firmbonds firmbonds + bondamount
          set loanlist lput myself loanlist]]]
    ;pay dividends to hholds
    ask hholds [set dividends 0]

    if dividends > 0 [
      let tempdividends dividends
      let EPS tempdividends / 10000

      set currentaccount currentaccount - tempdividends

      ask hholds [
        set dividends dividends + (EPS * stockowned)
        set currentaccount currentaccount + (EPS * stockowned)]

      set dividends 0]

    if bankdividends > 0 [
      let tempdividends bankdividends
      let EPS tempdividends / 10000

      set currentaccount currentaccount - tempdividends

      ask hholds [
        set dividends dividends + (EPS * stockowned)
        set currentaccount currentaccount + (EPS * stockowned)]

      set bankdividends 0]]
end 

to governments-quarterly
  ;government collects withhelds taxes from banks, households and firms
  ask governments[
    let firmtaxes sum [taxwithholdings] of firms
    let hholdtaxes sum [taxwithholdings] of hholds
    let banktaxes sum [taxwithholdings] of banks

    set taxescollected firmtaxes + hholdtaxes + banktaxes

    set currentaccount currentaccount + taxescollected

    set revenue taxescollected

    set fiscalspending fiscalspending + (.1 * (revenue - expenses))

    ask firms[
      set currentaccount currentaccount - taxwithholdings
      set taxwithholdings 0]

    ask banks[
      set currentaccount currentaccount - taxwithholdings
      set taxwithholdings 0]

    ask hholds[
      let hhtaxes taxwithholdings
      set hhdeposits hhdeposits - taxwithholdings
      ask banks [
          set hhdeposits hhdeposits - hhtaxes
          set capitalaccount capitalaccount - hhtaxes]
      set taxwithholdings 0]]
end 

;MONTHLY ACTIONS

to banks-interact
  ask firms[
    set fbinterest 0
    set fcinterest 0]
  ask hholds[
    set hhcinterest 0]

  ask cbanks[
    set bbinterest 0
    set bdinterest 0]

  ask banks[

    set fbinterest 0
    set fcinterest 0
    set hhcinterest 0

    ;banks collect interest on bonds and loans
    let temploans turtle-set loanlist
    ask temploans with [kind = "firmbonds"][
      let tempamount payment
      ask borrower [
        set currentaccount currentaccount - tempamount
        set fbinterest fbinterest + tempamount]
      ask lender [
        set currentaccount currentaccount + tempamount
        set fbinterest fbinterest + tempamount]

      let tempremain remain
      if timeleft = 0 [;they cash the bond
        ask lender [
          set capitalaccount capitalaccount + tempremain
          set firmbonds firmbonds - tempremain
          set loanlist remove myself loanlist]
        ask borrower[
          set currentaccount currentaccount - tempremain
          set firmbonds firmbonds - tempremain
          set loanlist remove myself loanlist]
        die]

      set timeleft timeleft - 1]]

  ask firms [
    let cintamount firmcredit * ((cbankrate + .08) / 12)

    set currentaccount currentaccount - cintamount
    set fcinterest fcinterest + cintamount

    ask banks [
      set currentaccount currentaccount + cintamount
      set fcinterest fcinterest + cintamount]]

  ask hholds [
    let cintamount hhcredit * ((cbankrate + .12) / 12)

    set currentaccount currentaccount - cintamount
    set hhcinterest hhcinterest + cintamount

    ask banks [
      set currentaccount currentaccount + cintamount
      set hhcinterest hhcinterest + cintamount]]

  ; banks pay interest to depositors

  ask hholds [
    let tempinterest (cbankrate / 12) * hhdeposits
    set hhdinterest tempinterest
    set currentaccount currentaccount + tempinterest
    ask banks [
      set hhdinterest hhdinterest + tempinterest
      set currentaccount currentaccount - tempinterest]]

  ask banks[
    ;banks pay interest to CB
  let temploans turtle-set loanlist
    ask temploans with [kind = "bbonds"][
      let tempamount payment
      ask borrower [
        set currentaccount currentaccount - tempamount
        set bbinterest bbinterest + tempamount]
      ask lender [
        set currentaccount currentaccount + tempamount
        set bbinterest bbinterest + tempamount]

      let tempremain remain
      if timeleft = 0 [;they cash the bond
        ask lender [
          set currentaccount currentaccount + tempremain
          set bbonds bbonds - tempremain
          set loanlist remove myself loanlist]
        ask borrower[
          set currentaccount capitalaccount - tempremain
          set bbonds bbonds - tempremain
          set loanlist remove myself loanlist]
        die]

      set timeleft timeleft - 1]
    ;collect interest from CB deposits

    if capitalaccount > 0[
      let tempinterest capitalaccount * cbankrate

      ask one-of cbanks [
        set currentaccount currentaccount - tempinterest
        set bdinterest bdinterest + tempinterest]

      set currentaccount currentaccount - tempinterest
      set bdinterest bdinterest + tempinterest]

    ;banks withhold taxes
    set revenue fbinterest + fcinterest + hhcinterest + hhminterest + gbinterest + bdinterest + foreclosureproceeds
    set expenses hhdinterest + bbinterest + badloans
    set profit revenue - expenses

    set taxwithholdings corporatetaxrate * profit

    set bankdividends (1 - corporatetaxrate) * profit

    set fbinterest 0
    set fcinterest 0
    set hhcinterest 0
    set hhminterest 0
    set gbinterest 0
    set bdinterest 0
    set foreclosureproceeds 0
    set hhdinterest 0
    set bbinterest 0
    set badloans 0

    ;if there is a profit, banks pay profits to firms to be given as dividends
    ;banks will shore up inadequate funds be reinvesting profits first, and then taking CB loans if that isn't sufficient

    if currentaccount < 0 [
      set capitalaccount capitalaccount + currentaccount
      set currentaccount currentaccount - currentaccount]


    if capitalaccount < 0 [;use profits to shore up capital needs
      let capitalneeded -1 * capitalaccount

      if bankdividends > capitalneeded [
        set currentaccount currentaccount - capitalneeded
        set capitalaccount capitalaccount + capitalneeded
        set bankdividends bankdividends - capitalneeded]

      if bankdividends < capitalneeded [
        set currentaccount currentaccount - bankdividends
        set capitalaccount capitalaccount + bankdividends
        set bankdividends bankdividends - bankdividends]

      if capitalaccount < 0 [
        let tempborrower self
        let templender one-of cbanks
        let bondamount -1 * capitalaccount
        let interestrate (cbankrate / 12)
        hatch-loans 1 [
          set lender templender
          set borrower tempborrower
          set cost bondamount
          set remain bondamount
          set intrate interestrate
          set payment (intrate / 12) * bondamount
          set timeleft 0
          set kind "bbonds"
          ask lender [
            set currentaccount currentaccount - bondamount
            set bbonds bbonds + bondamount
            set loanlist lput myself loanlist]
          ask borrower [
            set capitalaccount capitalaccount + bondamount
            set bbonds bbonds + bondamount
            set loanlist lput myself loanlist]]]]
  ]
end 

to government-interact
  ;collect CB profits
  ask cbanks [

    set revenue gbinterest + bbinterest
    set expenses bdinterest
    set profit revenue - expenses

    if profit > 0 [
      let tempprofit profit
      set currentaccount currentaccount - tempprofit
      ask governments [
        set cbprofits tempprofit
        set currentaccount tempprofit]]

    set gbinterest 0
    set bbinterest 0
    set bdinterest 0]

  ;spends fiscal to firms
  ask governments [
    let tempfiscal fiscalspending

    set currentaccount currentaccount - tempfiscal

    ask firms [
      set fiscalspending tempfiscal
      set currentaccount currentaccount + tempfiscal]

  ;pays bond interest to CB and banks
    set gbinterest 0
    ask banks [
      set gbinterest 0]
    ask cbanks [
      set gbinterest 0]

    let temploans turtle-set loanlist

    ask temploans with [kind = "gbonds"][
      let tempamount payment
      ask borrower [
        set currentaccount currentaccount - tempamount
        set gbinterest gbinterest + tempamount]
      ask lender [
        set currentaccount currentaccount + tempamount
        set gbinterest gbinterest + tempamount]

      let tempremain remain
      if timeleft = 0 [;they cash the bond
        ask lender [
          set currentaccount currentaccount - tempremain
          set gbonds gbonds - tempremain]
        ask borrower[
          set currentaccount currentaccount + tempremain
          set gbonds gbonds - tempremain]
        die]

      set timeleft timeleft - 1]

  ;covers deficit by releasing bonds to CB

    if currentaccount < 0[
      let tempborrower self
      let templender one-of cbanks
      let bondamount -1 * currentaccount
      let interestrate (cbankrate / 12)
      hatch-loans 1 [
        set lender templender
        set borrower tempborrower
        set cost bondamount
        set remain bondamount
        set intrate interestrate
        set payment (intrate / 12) * bondamount
        set timeleft 12
        set kind "gbonds"
        ask lender [
          set currentaccount currentaccount - bondamount
          set gbonds gbonds + bondamount
          set loanlist lput myself loanlist]
        ask borrower [
          set currentaccount currentaccount - bondamount
          set gbonds gbonds + bondamount
          set loanlist lput myself loanlist]]]]
end 

to firms-interact
  ;firms calculate profits from last turn
  ask firms [
    set revenue fiscalspending + consumption
    set expenses fbinterest + fcinterest + wages
    set profit revenue - expenses

    set taxwithholdings profit * corporatetaxrate
    ;determine withholdings for taxes
    set dividends profit - taxwithholdings

    ;take out credit if needed
    if currentaccount < 0 [
      let creditneeded -1 * currentaccount

      set currentaccount currentaccount + creditneeded
      set firmcredit firmcredit + creditneeded

      ask banks [
        set firmcredit firmcredit + creditneeded
        set capitalaccount capitalaccount - creditneeded]]

  ;pay workers (this is start of new turn)
    let totalwages sum [wages] of hholds

    set wages totalwages
    set currentaccount currentaccount - totalwages

    ask hholds [
      set currentaccount currentaccount + wages]

    set consumption 0
    set fiscalspending 0
    set fbinterest 0
    set fcinterest 0]
end 

to households-interact
  ask houses [
    let thishouse self
    set bidlist hholds with [currentbidhouse = thishouse]]

  ask hholds [

    if not any? houses with [occupant = myself][
      set status "homeless"]
  ;set desired consumption based on wages, wealth, and **networks**
    set consumption (.3 * income) + 600 + (.001 * wealth) + (((random-poisson 1) / 3) * income)
  ;buy consumption from the firm
    let tempconsumption consumption
    set currentaccount currentaccount - tempconsumption
    ask firms [
      set currentaccount currentaccount + tempconsumption
      set consumption consumption + tempconsumption]

    set rentincome 0

    set hhminterest 0
    set hhmpayment 0]
  ;pay rent to landlords
  ask houses with [status = "renter"][
    let temprent rentprice

    ask occupant[
      set currentaccount currentaccount - temprent
      set rentexpense temprent]
    ask owner[
      set currentaccount currentaccount + temprent
      set rentincome rentincome + temprent]]

  ask loans with [kind = "hhmortgage"][

    let tempamount payment
    let tempinterest remain * intrate
    let tempprinciple payment - tempinterest

    ifelse tempamount < (([currentaccount] of borrower) + ([capitalaccount] of borrower)) [
      ask borrower [
        set currentaccount currentaccount - tempamount
        set hhmortgages hhmortgages - tempprinciple
        set hhmpayment hhmpayment + tempamount
        set hhminterest hhminterest + tempinterest]
      ask lender [
        set currentaccount currentaccount + tempinterest
        set hhminterest hhminterest + tempinterest
        set capitalaccount capitalaccount + tempprinciple
        set hhmortgages hhmortgages - tempprinciple]

      set remain remain - tempprinciple

      let tempremain remain
      if timeleft = 0 [;they cash the bond
        ask lender [
          set currentaccount currentaccount + tempremain
          set hhminterest hhminterest + tempremain
          set loanlist remove myself loanlist]
        ask borrower[
          set currentaccount currentaccount - tempremain
          set hhminterest hhminterest + tempremain
          set loanlist remove myself loanlist]
        ask asset[
          set mortgage 0]
        die]

      set missedpayments 0
      set timeleft timeleft - 1][
      ifelse missedpayments > 3[;start forclosure
        if remain > [taxprice] of asset [
          let thishouse asset
          let tempbad remain

          ask asset [
            set forsale? true
            set foreclosed? true
            set foreclosedhomes foreclosedhomes + 1
            set askingprice tempbad
            set mortgage 0
            set owner 0
            set status "vacant"

            if occupant != 0 [
              ask occupant [
                set status "homeless"]]
            set occupant 0]

          ask lender [
            set badloans badloans + tempbad
            set hhmortgages hhmortgages - tempbad
            set loanlist remove myself loanlist]

          ask borrower [
            set houselist remove thishouse houselist
            set loanlist remove myself loanlist]

          die
      ]][;don't start forclosure
        set missedpayments missedpayments + 1]]]




  ;calculate withholdings for income, and property taxes
  ask hholds [
    let propertyvalues sum [taxprice] of (turtle-set houselist)
    let propertytax (propertyvalues * propertytaxrate) / 12 ; what the monthly portion for the tax would be

    set income (dividends / 3) + wages + rentincome + hhdinterest

    let taxableincome income - 1733.33 ; taxableincome less the standard deduction and personal deductions
    let incometax 0

    let capitalgainstaxrate 0

    if taxableincome >= 0 and taxableincome < 1554.25 [ ; monthly brackets based on 2017 income tax brackets for Federal taxes
      set incometax 0 + 0.1 * (taxableincome - 0)]

    if taxableincome >= 1554.25 and taxableincome < 6325 [
      set incometax 155.42 + 0.15 * (taxableincome - 1554.25)]

    if taxableincome >= 6325 and taxableincome < 12758.42 [
      set incometax 1104.17 + 0.25 * (taxableincome - 6325)
      set capitalgainstaxrate .15]

    if taxableincome >= 12758.42 and taxableincome < 19445.92 [
      set incometax 4293.75 + 0.28 * (taxableincome - 12758.42)
      set capitalgainstaxrate .15]

    if taxableincome >= 19445.92 and taxableincome < 34725 [
      set incometax 9738.58 + 0.33 * (taxableincome - 19445.92)
      set capitalgainstaxrate .15]

    if taxableincome >= 34725 and taxableincome < 39225 [
      set incometax 21197.83 + 0.35 * (taxableincome - 34725)
      set capitalgainstaxrate .15]

    if taxableincome >= 39225 [
      set incometax 34926.58 + 0.396 * (taxableincome - 39225)
      set capitalgainstaxrate .2]

    let capitalgainstaxes 0
    if capitalgains > 0 [
      set capitalgainstaxes capitalgainstaxrate * capitalgains] ; capital gains tax rate depends on income tax bracket

    set capitalgains 0

    set taxwithholdings propertytax + incometax + capitalgainstaxes

    set currentaccount currentaccount - taxwithholdings
    set hhdeposits hhdeposits + taxwithholdings

    ;set taxwithholdings taxwithholdings + (capitalgainstaxes * capitalgains)
    ;put taxwithholdings into deposits

    let tempmoney (currentaccount)
    ;pay off credit with leftover money
    ;transfer leftover money to savings in capital account

    if currentaccount > 0 [;pay off credit with leftover money
      if hhcredit > 0 [
        let amountowed hhcredit
        ifelse amountowed < tempmoney [;if the hhold can pay it off right away
          set tempmoney tempmoney - amountowed
          set currentaccount currentaccount - amountowed
          set hhcredit hhcredit - amountowed
          ask banks [
            set hhcredit hhcredit - amountowed
            set capitalaccount capitalaccount + amountowed]][ ;if the hhold can only pay part of it
          set amountowed tempmoney
          set tempmoney tempmoney - amountowed
          set currentaccount currentaccount - amountowed
          set hhcredit hhcredit - amountowed
          ask banks [
            set hhcredit hhcredit - amountowed
            set capitalaccount capitalaccount + amountowed]]]]

    ;transfer the rest to capitalaccount

    if currentaccount > 0 [
      set tempmoney currentaccount
      set currentaccount currentaccount - tempmoney
      set hhdeposits hhdeposits + tempmoney
      ask banks [
          set hhdeposits hhdeposits + tempmoney
          set capitalaccount capitalaccount + tempmoney]
      set capitalaccount capitalaccount + tempmoney]


    if currentaccount < 0 [;set credit higher (short term solution)
      let creditneeded -1 * currentaccount

      set currentaccount currentaccount + creditneeded
      set hhcredit hhcredit + creditneeded
      ask banks [
        set hhcredit hhcredit + creditneeded
        set capitalaccount capitalaccount - creditneeded]]

    if hhcredit > 0 [
      if capitalaccount > 0 [
        set tempmoney capitalaccount
        let amountowed hhcredit

        ifelse amountowed < tempmoney [;if the hhold can pay it off right away
          set capitalaccount capitalaccount - amountowed
          set hhdeposits hhdeposits - amountowed
          set hhcredit hhcredit - amountowed
          ask banks [
            set hhdeposits hhdeposits - amountowed
            set capitalaccount capitalaccount - amountowed
            set hhcredit hhcredit - amountowed
            set capitalaccount capitalaccount + amountowed]
          ][ ;if the hhold can only pay part of it
          set amountowed capitalaccount
          set capitalaccount capitalaccount - amountowed
          set hhdeposits hhdeposits - amountowed
          ask banks [
            set hhdeposits hhdeposits - amountowed
            set capitalaccount capitalaccount - amountowed
            set hhcredit hhcredit - amountowed
            set capitalaccount capitalaccount + amountowed]
          set hhcredit hhcredit - amountowed]]]

    if capitalaccount < 0 [
      let creditneeded -1 * capitalaccount

      set capitalaccount capitalaccount + creditneeded
      set hhdeposits hhdeposits + creditneeded
      set hhcredit hhcredit + creditneeded
      ask banks [
        set hhdeposits hhdeposits + creditneeded
        set capitalaccount capitalaccount + creditneeded
        set hhcredit hhcredit + creditneeded
        set capitalaccount capitalaccount - creditneeded]]


    ;hholds will raise their bid each month until they are the top bidder
    if currentbidhouse != 0 [

      if capitalaccount > 0 [
        ;;figure out how much they can afford 1) loan portion should be either the rest of the portion after paying downpayment or the most they can make payments on and 2) the current state of their capitalaccount
        let maxpayment income - expenses
        if maxpayment > .4 * income [set maxpayment .4 * income]

        let mortgagerate (cbankrate + .03) / 12
        let maxloan maxpayment / (mortgagerate * ((1 + mortgagerate) ^ 360) / (((1 + mortgagerate) ^ 360) - 1))

        if maxloan > (capitalaccount / min-dpay) [set maxloan (capitalaccount / min-dpay)]

        set maxaffordability maxloan + capitalaccount

        let tempmax maxaffordability

        let tempbidlist [bidlist] of currentbidhouse
        set tempbidlist sort-on [(- currentbid)] tempbidlist

        if first tempbidlist != self [ ;if hhold is not the highest bidder, they will try and increase bid based on their maxaffordability
          let currenthighbid max [currentbid] of (turtle-set tempbidlist)
          if tempmax > currenthighbid [
            set currentbid currenthighbid + ((tempmax - currenthighbid) * .2)]]]]]
end 

to update-lorenz-and-gini
  let sorted-wealths sort [wealth] of hholds
  let total-wealth sum sorted-wealths
  let wealth-sum-so-far 0
  let index 0
  set gini-index-reserve 0
  set num-hholds count hholds
  set lorenz-points []
  repeat num-hholds [
    set wealth-sum-so-far (wealth-sum-so-far + item index sorted-wealths)
    set lorenz-points lput ((wealth-sum-so-far / total-wealth) * 100) lorenz-points
    set index (index + 1)
    set gini-index-reserve gini-index-reserve + (index / num-hholds) - (wealth-sum-so-far / total-wealth)]
end 

to update-houses
  ask houses [
    set tenure tenure + 1
    if status = "vacant" [set color red]
    if status = "renter" [set color green]
    if status = "homeowner" [set color brown]

    set taxprice mean [taxprice] of (houses in-radius 3)
  ]
end 

to-report wealth
  let mywealth capitalaccount

  if houselist != 0 [
    let myhouses turtle-set houselist
    set mywealth mywealth + sum [taxprice] of myhouses]
  report mywealth
end 

to-report prestige
  let deedneighbors (list houses in-radius 4)
  let myprestige taxprice / 100000
  if empty? deedneighbors = false [foreach deedneighbors [deedneighbor ->
    ask deedneighbor[
        let myowner occupant
        if status = "vacant" [
          set myprestige myprestige - 1]
      if myowner != 0 [
        if [status] of myowner = "renter" [
          set myprestige myprestige + 0]
        if [status] of myowner = "homeowner" [
          set myprestige myprestige + 1]
        if [status] of myowner = "landlord" [
          set myprestige myprestige + 2]]]]]
  report myprestige
end