Open Access. Powered by Scholars. Published by Universities.®

Real Estate Commons

Open Access. Powered by Scholars. Published by Universities.®

1,205 Full-Text Articles 1,233 Authors 572,197 Downloads 99 Institutions

All Articles in Real Estate

Faceted Search

1,205 full-text articles. Page 40 of 41.

Commitment, Risk, And Consumption: Do Birds Of A Feather Have Bigger Nests?, Stephen H. Shore, Todd Sinai 2010 University of Pennsylvania

Commitment, Risk, And Consumption: Do Birds Of A Feather Have Bigger Nests?, Stephen H. Shore, Todd Sinai

Real Estate Papers

Consumption commitments—goods like housing for which adjustment is costly—change the relationship between risk and consumption. Commitment provides a motive to reduce consumption when possible future losses are too small to warrant adjustment but not when losses are large enough that adjustment would be worthwhile. This implies conditions under which mean-preserving increases in risk can increase housing consumption. Our empirical evidence exploits the interaction of these conditions with a novel proxy for unemployment risk: couples sharing an occupation. Consistent with our model, same-occupation couples consume more housing only when adjustment costs are high and potential losses are sufficiently large.


Urban Economic Base As A Catalyst For Movements In Real Estate Prices, N. Edward Coulson, Crocker H. Liu Ph.D., Sriram V. Villupuram 2010 Pennsylvania State University

Urban Economic Base As A Catalyst For Movements In Real Estate Prices, N. Edward Coulson, Crocker H. Liu Ph.D., Sriram V. Villupuram

Cornell Real Estate and Finance Working Papers

We examine the relation between housing prices in an MSA and its urban economic base. We create and employ new forward looking employment growth indices that measure the urban economic strength of an MSA and find that it accounts for a significant and sizeable portion of the house price movements in that MSA. We further partition the urban economic growth into growth by various industries and track the attribution of their growth to housing prices over time. We find that for some MSAs, home prices are driven by the same set of industries over time, whereas for others, home prices ...


Center For Real Estate Quarterly, Volume 4, Number 2, Portland State University. Center for Real Estate 2010 Portland State University

Center For Real Estate Quarterly, Volume 4, Number 2, Portland State University. Center For Real Estate

Center for Real Estate Quarterly

Table of Contents:
--Editor's Urban Development Journal "Questions of Value & Value of Questions" by Will Macht (pg 3-14)
--"U.S. Observations From Global Demographics" by Leanne Lachman (pg 15-22)
--"Downtown Schools & Real Estate Development" by Gerard Mildner (pg 23-30)
--"Cooperative Housing in Portland" by Atha Mansoory (pg 31-42)
--"KOIN Center History: The Paul Principle" by Eugene Grant (pg 43-52)
--"Sustainable Containers: Cost-Effective Student Housing" by Caroline Uittenbroek & Will Macht (pg 53-60)
--"Food Carts as Retail Real Estate" by April Chastain (pg 61-70)
--"Office Market Analysis" by Kyle Smith (pg 71-82)
--"Retail Market Analysis" by Kyle Smith (pg 83-87)
--"Industrial ...


Measuring Spillover Effects Of Residential Amenity Improvement Using Spatial Hedonic Approach, Shruti Tandon 2010 University of Nevada, Las Vegas

Measuring Spillover Effects Of Residential Amenity Improvement Using Spatial Hedonic Approach, Shruti Tandon

Graduate Research Symposium (GCUA) (2010 - 2017)

Spillover externalities can be explained as influences of the prices of neighboring properties on the price of a given one. Suppose there is a price change or changes in the amenity levels in a neighborhood. The effect of this change would be experienced by properties in a close proximity and the prices of the properties in close proximity might help explain the price of the property of interest. In the context of welfare valuation, this feature of spatial price interdependence or spillover effects has only recently received attention. Spatial lag models are one of the many spatial econometric methods used ...


Mass Business Report, College of Management, University of Massachusetts Boston 2010 University of Massachusetts Boston

Mass Business Report, College Of Management, University Of Massachusetts Boston

Financial Services Forum Publications

Welcome to the College of Management, UMass Boston, Financial Services Forum’s Spring 2010 report on the Massachusetts economy. The spotlight of this report is the Finance, Insurance and Real Estate (FIRE) sector in Massachusetts.


Affordable Homeownership Policy: Implications For Housing Markets, Sock Yong PHANG 2010 Singapore Management University

Affordable Homeownership Policy: Implications For Housing Markets, Sock Yong Phang

Research Collection School Of Economics

Affordable homeownership is a policy that is often accorded a great deal of policy attention by governments of many countries. This paper aims to examine the market implications of setting a housing price to income ratio target for a market segment by the government. The policy requires active intervention by the government with regard to the targeted sector. The paper uses a simple model of the housing market with a homeownership affordability target to derive the market implications of such targets. In the presence of uncertainty and resource constraints, the objective of homeownership affordability is achieved for the targeted group ...


Climate Change And Real Estate: How Environmental Risks And Policies Impact Markets, Adele C. Morris 2010 Brookings Mountain West

Climate Change And Real Estate: How Environmental Risks And Policies Impact Markets, Adele C. Morris

Lectures/Events (BMW)

Climate change could worsen environmental conditions that affect real estate values, such as extreme weather events and coastal erosion. But policies to prevent climate change can also affect real estate values, for example through higher energy prices and land use regulation. This lecture will examine the linkages between the climate change risks, climate policy, and real estate markets. We will also discuss the likely regional economic effects of recent proposed climate legislation.


Owning Versus Leasing: Do Courts Matter?, Pablo Casas-Arce, Albert Saiz 2010 University of Pennsylvania

Owning Versus Leasing: Do Courts Matter?, Pablo Casas-Arce, Albert Saiz

Real Estate Papers

We develop a legal contract enforcement theory of the own versus lease decision. The allocation of ownership rights will minimize enforcement costs when the legal system is inefficient. In particular, when legal enforcement of contracts is costly, there will be a shift from arrangements that rely on such enforcement (such as a rental agreement) toward other forms that do not (such as direct ownership). We then test this prediction and show that costly enforcement of rental contracts hampers the development of the rental housing market in a cross-section of countries. We argue that this association is not the result of ...


Estimating Agglomeration Economies With History, Geology, And Worker Effects, Pierre-Philippe Combes, Gilles Duranton, Laurent Gobillon, Sébastien Roux 2010 University of Pennsylvania

Estimating Agglomeration Economies With History, Geology, And Worker Effects, Pierre-Philippe Combes, Gilles Duranton, Laurent Gobillon, Sébastien Roux

Real Estate Papers

Does productivity increase with density? We revisit the issue using French wage and TFP data. To deal with the ‘endogenous quantity of labour bias (i.e., urban agglomeration is consequence of high local productivity rather than a cause), we take an instrumental variable approach and introduce a new set of geological instruments in addition to standard historical instruments. To deal with the ‘endogenous quality of labour bias (i.e., cities attract skilled workers so that the effects of skills and urban agglomeration are confounded), we take a worker fixed-effect approach with wage data. We find modest evidence about the endogenous ...


Feedback Between Real Estate And Urban Economics, Todd Sinai 2010 University of Pennsylvania

Feedback Between Real Estate And Urban Economics, Todd Sinai

Real Estate Papers

This paper considers the implications of increasing land supply constraints in the United States on urban demand. First, because shifts in demand are now capitalized more into the price of land, house prices in some metropolitan areas have grown increasingly unaffordable to typical households. This might have an effect on the fundamental character of such cities. Second, the effect of home owners’ financial interests as landowners on their decisions about what regulations or investments in their communities to support may become stronger. Third, researchers may now be able to better use land prices to make inferences about urban demand. However ...


Do School Entry Laws Affect Educational Attainment And Labor Market Outcomes?, Carlos Dobkin, Fernando V. Ferreira 2010 University of Pennsylvania

Do School Entry Laws Affect Educational Attainment And Labor Market Outcomes?, Carlos Dobkin, Fernando V. Ferreira

Real Estate Papers

Age based school entry laws force parents and educators to consider an important tradeoff: though students who are the youngest in their school cohort typically have poorer academic performance, on average, they have slightly higher educational attainment. In this paper we document that for a large cohort of California and Texas natives the school entry laws increased educational attainment of students who enter school early, but also lowered their academic performance while in school. However, we find no evidence that the age at which children enter school effects job market outcomes, such as wages or the probability of employment. This ...


Center For Real Estate Quarterly, Volume 4, Number 1, Portland State University. Center for Real Estate 2010 Portland State University

Center For Real Estate Quarterly, Volume 4, Number 1, Portland State University. Center For Real Estate

Center for Real Estate Quarterly

Table of Contents:
--Editor's Urban Development Journal "A Decade of Development Needs" by Will Macht (pg 3-8)
--"Portland's Real Estate Market: Public Policy" by Gerard Mildner (pg 9-16)
--"Condominium Financing: FHA Rule Change Controversy" by Cliff Hockley (pg 17-21)
--"Hayden Island: Strategic Resources for Sustainable Future?" by Shadrach Pilip-Florea (pg 22-40)
--"Office Market Analysis" by Kyle Smith (pg 41-50)
--"Industrial Market Analysis" by Kyle Smith (pg 51-54)
--"Multifamily Market analysis" by Scott Aster (pg 55-61)
--"Housing Market analysis" by Scott Aster (pg 55-61)


Split Estate, Thomas A. Ipri 2010 University of Nevada, Las Vegas

Split Estate, Thomas A. Ipri

Library Faculty Publications

The concept of a split estate refers to the fact that owners of a property do not necessarily own the minerals and resources that reside under the property.
Debra Anderson’s Split Estate highlights the more damning aspects of this oddity by documenting how oil and gas companies are setting up shop on home
owner’s land. In some instances, oil rigs are constructing within 100 feet of people’s homes.


The Value Of School Facility Investments: Evidence From A Dynamic Regression Discontinuity Design, Stephanie Riegg Cellini, Fernando V. Ferreira, Jesse Rothstein 2010 University of Pennsylvania

The Value Of School Facility Investments: Evidence From A Dynamic Regression Discontinuity Design, Stephanie Riegg Cellini, Fernando V. Ferreira, Jesse Rothstein

Real Estate Papers

Despite extensive public infrastructure spending, surprisingly little is known about its economic return. In this paper, we estimate the value of school facility investments using housing markets: standard models of local public goods imply that school districts should spend up to the point where marginal increases would have zero effect on local housing prices. Our research design isolates exogenous variation in investments by comparing school districts where referenda on bond issues targeted to fund capital expenditures passed and failed by narrow margins. We extend this traditional regression discontinuity approach to identify the dynamic treatment effects of bond authorization on local ...


Competencia Económica En El Sector Inmobiliario Y Sus Principales Transacciones, Carlos Mena-Labarthe 2010 Instituto Tecnológico Autónomo de México

Competencia Económica En El Sector Inmobiliario Y Sus Principales Transacciones, Carlos Mena-Labarthe

Carlos Mena-Labarthe

Estudio de la regulación de competencia y su impacto en las principales transacciones inmobiliarias. Se estudia la experiencia mexicana y se compara con otras experiencias.


Incentive Effect Of Piece Rate Contracts: Evidence From Two Small Field Experiments, Lan Shi 2010 University of Washington, Seattle

Incentive Effect Of Piece Rate Contracts: Evidence From Two Small Field Experiments, Lan Shi

Lan Shi

No abstract provided.


Green Building Contracts: Considering The Roles Of Consequential Damages & Limitation Of Liability Provisions, Darren Prum, Stephen Del Percio 2010 Regis University

Green Building Contracts: Considering The Roles Of Consequential Damages & Limitation Of Liability Provisions, Darren Prum, Stephen Del Percio

Darren A. Prum

The green building market continues to grow, but so do the corresponding legal risks which are only now being explored by scholars and practitioners. Lurking in the shadows behind any green building risk management strategy is how consequential damages - damages which may flow from a party's breach of a design, construction, or consulting contract - should be allocated among project stakeholders. This allocation is particularly critical on green building projects, whose unique and novel nature can create an increased potential for consequential damages. For example, green building tax credits, premium rents, and even energy savings might fall within the definition ...


Roads: Leading Indicators Show Ramp-Up In Activity, SHISHIR MATHUR, Kunal Katara 2010 San Jose State University

Roads: Leading Indicators Show Ramp-Up In Activity, Shishir Mathur, Kunal Katara

Faculty Publications, Urban and Regional Planning

No abstract provided.


Timeshare Owner Preferences - An Analysis Of Program And Service Relationships During Recessionary Times, Randall S. Upchurch Ph.D, Robin B. DiPietro, Brumby McLeod 2010 University of Wisconsin-Stout

Timeshare Owner Preferences - An Analysis Of Program And Service Relationships During Recessionary Times, Randall S. Upchurch Ph.D, Robin B. Dipietro, Brumby Mcleod

Hospitality Review

Since the 1970s various industry studies have indicated that the vacation ownership industry has enjoyed unprecedented growth in unit sales, resort growth, and the number of owners (American Resort Devleopment Association [ARDA], 2007; ARDA, 2009a; ARDA, 2009b). However, due to the recent economic downturn these growth metrics are no longer obtainable. This external impact has caused developers to retrench and therefore reflect upon their existing product and service offerings, financial metrics, and consumer markets (ARDA, 2010a; ARDA 2010b). The crux of these findings indicates that the industry has shifted to maintaining and enhancing product and service offerings as a reaction ...


Roads: Leading Indicators Show Ramp-Up In Activity, SHISHIR MATHUR, Kunal Katara 2010 San Jose State University

Roads: Leading Indicators Show Ramp-Up In Activity, Shishir Mathur, Kunal Katara

Shishir Mathur

No abstract provided.


Digital Commons powered by bepress