The Economics of Housing Markets

Author: A. Goodman,R. Muth

Publisher: Taylor & Francis

ISBN: 113646106X

Category: Business & Economics

Page: 160

View: 7101

A state of the art overview of theoretical and empirical aspects of housing market research.
Posted in Business & Economics

The Modern Economics of Housing

A Guide to Theory and Policy for Finance and Real Estate Professionals

Author: Randall Johnston Pozdena

Publisher: Greenwood Publishing Group

ISBN: 9780899302317

Category: Business & Economics

Page: 203

View: 4538

This practical handbook aims to show planners and managers throughout the financial services industry how to compete successfully by improving the quality, selection, and delivery of services. It presents step-by-step methods for designing and implementing financial service packages that will satisfy customers' needs. It offers practical advice on how to determine customers' wants and how to translate these into an individualized package tailored to their particular needs Business Information Alert In recent years, the U.S. housing market has been characterized by rapid changes in housing prices, quality, and availability. This handbook is a highly readable examination of the various theories that have been advanced to explain the economic behavior of today's housing market. Emphasis is put on developing an understanding of the sophisticated economics underlying the market, thus enabling the reader to carry this knowledge over into a rapidly changing marketplace. The book begins with a brief look at the historical development of U.S. housing markets and government intervention in these markets. The study goes on to develop a conceptual framework that can be used to evaluate the effects of the economic environment and government policy on the housing market. Throughout the book, real-world data is employed to verify and illustrate the major points of the presentation.
Posted in Business & Economics

The Microstructures of Housing Markets

Author: Susan J. Smith,Moira Munro

Publisher: Routledge

ISBN: 1317968034

Category: Business & Economics

Page: 210

View: 7737

House prices and mortgage debt have moved to centre stage in the management of national economies, regional development and neighbourhood change. Describing, analysing and understanding how housing markets work within and across these scales of economy and society has never been more urgent. But much more is known about the macro-scales than the microstructures; and about the economic rather than social drivers of housing market dynamics. This book redresses the balance. It shows that housing markets are social, cultural and psychological – as well as economic – affairs. This multidisciplinary approach is helpful in understanding the economic staples of supply, demand, price and information. It also casts new light on the emotional and political economy of markets.
Posted in Business & Economics

The Economics of Housing Vouchers

Author: Joseph H. Friedman,Daniel H. Weinberg

Publisher: Academic Press

ISBN: 1483260437

Category: Business & Economics

Page: 236

View: 2905

The Economics of Housing Vouchers is a seven-chapter text that examines the housing choices of low-income families in two metropolitan areas, namely, Phoenix and Pittsburgh. Some of these households are offered a novel kind of housing subsidy, including a housing allowance or housing voucher, in an experimental framework designed to test this approach to demand-side housing assistance. Chapter 1 presents an overview of U.S. housing programs and the dimensions of the U.S. housing problem. Chapter 2 provides a simple microeconomic model that conceptualizes household behavior, as well as a summary of some of the extant evidence on housing demand. This chapter also estimates the housing demand models for the low-income population in the Demand Experiment, using housing expenditures to measure housing. Chapter 3 applies a hedonic index of housing services that abstracts from particular characteristics of the household or landlord that may affect rent and attempts to measure housing in a more objective manner. Chapter 4 describes a model of household behavior that leads to the methodology for estimating experimental effects. Chapter 5 repeats the analysis for Minimum Rent households, while Chapter 6 examines the effect of both kinds of Housing Gap allowance payment on the consumption of housing services. Lastly, Chapter 7 focuses on the implications of the experimental findings for housing policy. This chapter compares a housing allowance strategy with two other approaches, namely, a pure income-transfer approach and a construction-oriented approach. This book is of value to workers in housing policy, including economists, regional and other social scientists in academia, housing analysts, the Congress, housing lobby groups, and state and local government housing officials.
Posted in Business & Economics

The Blackwell Companion to the Economics of Housing

The Housing Wealth of Nations

Author: Susan J. Smith,Beverley A. Searle

Publisher: John Wiley & Sons

ISBN: 9781444317985

Category: Business & Economics

Page: 648

View: 3499

The Blackwell Companion to the Economics of Housing willhelp students and professionals alike to explore key elements ofthe housing economy: home prices, housing wealth, mortgage debt,and financial risk. Features 24 original essays, including an editorialintroduction and three section overviews Includes 39 world-class authors from a mix of educational andfinancial organizations in the UK, Europe, Australia, and NorthAmerica Broadly-based, scholarly, and accessible, serving students andprofessionals who wish to understand how today’s housingeconomy works Profiles the role and relevance of housing wealth; themismanagement of mortgage debt; and the pitfalls and potential ofhedging housing risk Key topics include: the housing price bubble and crash; thesubprime mortgage crisis in the US and its aftermath; the linksbetween housing wealth, the macroeconomy, and the welfare ofhome-occupiers; the mitigation of credit and housing investmentrisks Specific case studies help to illustrate concepts, along withnew data sets and analyses to illustrate empirical points
Posted in Business & Economics

The Economics of Commercial Property Markets

Author: Michael Ball,Colin Lizieri,Bryan MacGregor

Publisher: Routledge

ISBN: 113474966X

Category: Business & Economics

Page: 416

View: 4739

This new text provides a rigorous analysis of real estate markets. Three main sections cover: microeconomics of property markets the macroeconomics of commercial property the financial economics of property Global empirical examples illustrate the theories and issues. This often complex area is made accessible: each chapter contains a boxed summary and questions for self-testing or discussion.
Posted in Business & Economics

Housing Economics and Public Policy

Author: Anthony O'Sullivan,Kenneth Gibb

Publisher: John Wiley & Sons

ISBN: 0470680415

Category: Business & Economics

Page: 352

View: 841

This book is a timely assessment of 20 years of progress in the field of housing economics and its application to policy and practice. Two decades on from the publication of Duncan Maclennan's influential Housing Economics, 16 leading housing experts - both academics and policy makers from across the world - now honour Maclennan's contributions. The chapters here present a contemporary survey of key issues in housing, from urban housing markets and sub-market modelling, to the economics of social housing, the basis for housing planning, economic analysis of neighbourhoods, and the connections between academic work and policy development. For students, researchers and practitioners in housing, urban economics and social policy, Housing Economics and Public Policy: . provides up to date and comprehensive reviews of major areas of the housing economics literature . sheds light on the economic, social and spatial processes that affect housing . includes discussion of major areas of cutting edge housing economics research and identifies continuing gaps . presents a synthesis of housing economics research on both sides of the Atlantic . assesses the impact of theory on policy and practice
Posted in Business & Economics

A Primer on U.S. Housing Markets and Housing Policy

Author: Richard K. Green,Stephen Malpezzi

Publisher: The Urban Insitute

ISBN: 9780877667025

Category: Political Science

Page: 226

View: 3510

The first book that explains the economics of housing policy for a general audience. Planners, government officials, and public policy students will find that the economic perspective is a very powerful and useful way to examine these issues. The authors provide a broad review of the market for housing services in the U.S., including a conceptual framework, an overview of housing demand and supply, methods for measuring prices and quantities, and sources of basic data on markets. They cover housing programs and polices, and offer answers to policy questions that are of current interest. The book has been field-tested in graduate and undergraduate courses in urban and housing economics at the University of Wisconsin, the University of California--Berkeley, The University of Pennsylvania, and others. This book is also sure to be useful to policymakers, advocates, economists, and anyone interested in a clear picture of how housing markets function. Published in cooperation with the American Real Estate and Urban Economics Association (AREUEA).
Posted in Political Science

Rethinking the Economics of Land and Housing

Author: Josh Ryan-Collins,Toby Lloyd,Laurie Macfarlane

Publisher: Zed Books Ltd.

ISBN: 1786991217

Category: Business & Economics

Page: 280

View: 399

Why are house prices in many advanced economies rising faster than incomes? Why isn’t land and location taught or seen as important in modern economics? What is the relationship between the financial system and land? In this accessible but provocative guide to the economics of land and housing, the authors reveal how many of the key challenges facing modern economies - including housing crises, financial instability and growing inequalities - are intimately tied to the land economy. Looking at the ways in which discussions of land have been routinely excluded from both housing policy and economic theory, the authors show that in order to tackle these increasingly pressing issues a major rethink by both politicians and economists is required.
Posted in Business & Economics

Housing Economics

Author: George Fallis

Publisher: Butterworth-Heinemann

ISBN: 1483192563

Category: Business & Economics

Page: 250

View: 5042

Housing Economics provides information pertinent to the fundamental aspects of housing economics. This book discusses the economic theory of how households make housing choices, how suppliers make decisions, and how changes in exogenous variables alter the market outcome. Organized into 10 chapters, this book begins with an overview of the nature of housing economics and explains why the standard microeconomic models need to be modified. This text then examines the demand side of the housing market. Other chapters provide an economic analysis of the supply side of the housing market. This book discusses as well the housing market models as they arise in a more macroeconomic context. The final chapter deals with the effects of different housing programs on consumers, producers, and the market equilibrium. This book is a valuable resource for undergraduate students of economics. Planners, urban geographers, policy analysts, and civil servants will also find this book useful.
Posted in Business & Economics

Urban Economics and Real Estate Markets

Author: Denise DiPasquale

Publisher: Pearson College Division


Category: Business & Economics

Page: 378

View: 9744

This up-to-date, highly-accessible book presents a unique combination of both economic theory and real estate applications, providing readers with the tools and techniques needed to understand the operation of urban real estate markets. It examines residential and non-residential real estate markets—from the perspectives of both macro- and micro-economics—as well as the role of government in real estate markets.
Posted in Business & Economics

Making Room

The Economics of Homelessness

Author: Brendan O'Flaherty

Publisher: Harvard University Press

ISBN: 9780674543423

Category: Business & Economics

Page: 349

View: 6898

Mentally ill people turned out of institutions, crack-cocaine use on the rise, more poverty, public housing a shambles: as attempts to explain homelessness multiply so do the homeless--and we still don't know why. The first full-scale economic analysis of homelessness, Making Room provides answers quite unlike those offered so far by sociologists and pundits. It is a story about markets, not about the bad habits or pathology of individuals. One perplexing fact is that, though homelessness in the past occurred during economic depressions, the current wave started in the 1980s, a time of relative prosperity. As Brendan O'Flaherty points out, this trend has been accompanied by others just as unexpected: rising rents for poor people and continued housing abandonment. These are among the many disconcerting facts that O'Flaherty collected and analyzed in order to account for the new homelessness. Focused on six cities (New York, Newark, Chicago, Toronto, London, and Hamburg), his studies also document the differing rates of homelessness in North America and Europe, and from one city to the next, as well as interesting changes in the composition of homeless populations. For the first time, too, a scholarly observer makes a useful distinction between the homeless people we encounter on the streets every day and those "officially" counted as homeless. O'Flaherty shows that the conflicting observations begin to make sense when we see the new homelessness as a response to changes in the housing market, linked to a widening gap in the incomes of rich and poor. The resulting shrinkage in the size of the middle class has meant fewer hand-me-downs for the poor and higher rents for the low-quality housing that is available. O'Flaherty's tightly argued theory, along with the wealth of new data he introduces, will put the study of homelessness on an entirely new plane. No future student or policymaker will be able to ignore the economic f
Posted in Business & Economics

Real Estate Economics

Author: Ernie Jowsey

Publisher: Macmillan International Higher Education

ISBN: 0230345743

Category: Business & Economics

Page: 520

View: 4917

'Real Estate Economics' explains the most important issues in UK and international real estate in terms of applied economics. It includes examples and data from property markets around the world, summaries of recent research in real estate issues, and up-to-date graphs and tables to explain the economics of land and property. Written by an experienced lecturer, this book is ideal for introductory courses on real estate, land and property, construction, housing, planning and applied economics, and includes: ■ a wide range of topical real estate subjects, such as the cyclical nature of real estate markets and the credit crunch; 'green building' and energy performance certificates; and the development of brownfield and contaminated land ■ empirical data to illustrate concepts in the form of tables or graphs ■ boxed examples throughout ■ a full pedagogical framework, including learning outcomes, chapter summaries and questions for review in each chapter ■ up-to-date presentation and analysis of issues related to the recent global recession
Posted in Business & Economics

The economics of housing

Author: Lionel Needleman

Publisher: N.A


Category: Political Science

Page: 232

View: 9356

Posted in Political Science

Real Estate Economics

A Point-to-Point Handbook

Author: Nicholas G Pirounakis

Publisher: Routledge

ISBN: 1136208445

Category: Business & Economics

Page: 512

View: 9359

Real Estate Economics: A point-to-point handbook introduces the main tools and concepts of real estate (RE) economics. It covers areas such as the relation between RE and the macro-economy, RE finance, investment appraisal, taxation, demand and supply, development, market dynamics and price bubbles, and price estimation. It balances housing economics with commercial property economics, and pays particular attention to the issue of property dynamics and bubbles – something very topical in the aftermath of the US house-price collapse that precipitated the global crisis of 2008. This textbook takes an international approach and introduces the student to the necessary ‘toolbox’ of models required in order to properly understand the mechanics of real estate. It combines theory, technique, real-life cases, and practical examples, so that in the end the student is able to: • read and understand most RE papers published in peer-reviewed journals; • make sense of the RE market (or markets); and • contribute positively to the preparation of economic analyses of RE assets and markets soon after joining any company or other organization involved in RE investing, appraisal, management, policy, or research. This book should be particularly useful to third-year students of economics who may take up RE or urban economics as an optional course, to postgraduate economics students who want to specialize in RE economics, to graduates in management, business administration, civil engineering, planning, and law who are interested in RE, as well as to RE practitioners and to students reading for RE-related professional qualifications.
Posted in Business & Economics

The Oxford Companion to the Economics of China

Author: Shenggen Fan,Ravi Kanbur,Shang-Jin Wei,Xiaobo Zhang

Publisher: OUP Oxford

ISBN: 0191030236

Category: Business & Economics

Page: 448

View: 3715

China's rise as an economic powerhouse raises a number of questions that are the subject of lively debate. How did the country do it? How applicable are the lessons of China's economic reform of the past thirty years to the challenges it faces in the next three decades? What does the detailed pattern of China's success and challenges look like the sub-sectoral and sub-national levels, and what does this mean for future policy? How will China's role as a global economic player evolve? This Oxford Companion to the Economics of China presents an original collection of perspectives on the Chinese economy's past, present and future. The contributors of these entries include: the best of young Chinese researchers based in China and outside; renowned academics from the top universities in China, Europe, and North America; present and past senior officials of international agencies like the World Bank and the International Monetary Fund; senior Chinese government officials from the Centre and the Provinces; and four recipients of the Nobel Prize in Economics. The Companion consists of 99 entries written by the leading China analysts of our time. The topics covered include: The China Model, Future Prospects for China , China and the Global Economy, Trade and the Chinese Economy, Macroeconomics and Finance, Urbanisation, Industry and Markets, Agriculture and Rural Development, Land, Infrastructure and Environment, Population and Labour, Dimensions of Wellbeing and Inequality, Health and Education, Gender Equity, Regional Divergence in China, and China's Provinces: Selected Perspectives. The Editors are four global leaders in Chinese economic analysis and policy who between them have held or hold the following positions: Director General, International Food Policy Research Institute; Co-Editor, China Economic Review; President Chinese Economists Society; Assistant Director of Research at the IMF; Principal Adviser to the Chief Economist of the World Bank; and Professors of Economics at Ivy League Universities.
Posted in Business & Economics

The Economics of Urban Property Markets

An Institutional Economics Analysis

Author: Paschalis A. Arvanitidis

Publisher: Routledge

ISBN: 1317637178

Category: Business & Economics

Page: 268

View: 5877

This book examines the relationship between the property market and urban economy. The stimulus for this work was provided by the seemingly ever-accelerating process of urban economic change and the noticeable failure of existing studies to adequately explore the pivotal role that the property market plays in this process. Drawing on institutional economics, the central argument of the book is that the property market as an institution is a mediator through which urban economic potential can be realised and served. In developing this argument, the book provides a critical realist ontological framework that advances understanding of the institutional structure of the economy and the complex interrelation between the institutional environment and human agency, as well as a holistic theoretical framework of urban economic change, where appropriate emphasis is placed on the specific mechanisms, processes and dynamics through which the built environment is provided. Arvanitidis also explores an institutional conceptualisation of property market efficiency, defined in terms of the ability of the market institution to adapt its structure and to provide outcomes that the economy requires. To inform empirical research on the developed concepts, the book also offers a generic analytical approach specifying appropriate research methods and techniques for investigation along with a specific research design providing an operational framework that translates developed theory into empirical practice. The book’s primary contribution therefore lies in its delineation of a holistic research programme to conceptualise the property market as an institution and to explore its role within the urban economy.
Posted in Business & Economics

Housing Markets and Housing Institutions: An International Comparison

An International Comparison

Author: Björn Hårsman,John M. Quigley

Publisher: Springer Science & Business Media

ISBN: 9780792390848

Category: Business & Economics

Page: 338

View: 8612

It is difficult to make international comparisons of economic institutions and government policies due to regional characteristics of the local environment. This is particularly true in comparative analysis of housing and the operation of housing markets. This book overcomes such difficulties by focusing on single cities or metropolitan areas within national systems. The countries selected include Austria, Finland, the Netherlands, Hungary, Sweden, the U.K. and the U.S.; the metropolitan areas that form the base of the analyses include Vienna, Helsinki, Amsterdam, Budapest, Stockholm, Glasgow, and San Francisco. Each article, written by a group of economists and economic geographers based in a university in a particular city, presents a description and analysis of a national housing market and an analysis of the development of housing policy and outcomes in a particular metropolitan area. The articles also include a detailed review of the spatial development of the major city, the operation ofthe housing market and the pattern of housing occupancy, and the principal institutions that affect the production and distribution of housing.
Posted in Business & Economics