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Full-Text Articles in Real Estate

Modelling Housing Prices And Credit Activity, Knowledge@Smu Jun 2012

Modelling Housing Prices And Credit Activity, Knowledge@Smu

Knowledge@SMU

Together, the housing and banking sectors of any capitalist nation can play an important hand in determining its overall economic health. This is clear from studies of booms and busts in the United States over this past decade and in Japan about three decades ago. A new econometric model now attempts to make sense of large changes in housing prices with corresponding changes in credit volume. The model was presented at a research seminar organised by SMU's School of Economics.


Can The Next Housing – And Financial Crisis Be Averted?, Knowledge@Smu May 2012

Can The Next Housing – And Financial Crisis Be Averted?, Knowledge@Smu

Knowledge@SMU

The costs of the subprime crisis are still being tabulated. Taxpayers of many countries are still being penalised unfairly as their governments stagger under the burden of bailing out banks poisoned by the burst of the real estate market. Regulators, including the US Fed, need to play a more active role in shaping and implementing policies that will include those meant for the real estate market. According to Wharton professor Susan Wachter, the tools needed for such effective policing are still in development. Nevertheless, the process of learning to avert the next such crisis is already underway.


Building Beyond Singapore: Local Real Estate Businesses Venture Overseas, Knowledge@Smu Jun 2010

Building Beyond Singapore: Local Real Estate Businesses Venture Overseas, Knowledge@Smu

Knowledge@SMU

Despite the recent property and construction boom in Singapore, local players in this field have always kept an eye on overseas markets. Lured by the promise of profits and prestige, many are setting up in cities around the world. However, unlike consumer mom-and-pop shops, the size of the investment typical of property and construction companies demands an ultra careful study of the overseas market. Companies have also got to ask if they have the required skills, talents and resources to churn a good project, said industry experts at a recent SMU forum.


Housekeeping For Regulators Of Volatile Housing Markets, Knowledge@Smu Nov 2009

Housekeeping For Regulators Of Volatile Housing Markets, Knowledge@Smu

Knowledge@SMU

World housing markets have gone through a volatile period of boom and bust, triggering the financial crisis and subsequent economic downturn. While it might be tempting for governments to contemplate on housing bubbles by means of monetary policy or direct controls over housing prices, such moves are far more complicated than it seems. Housing prices are influenced by various factors and governments have a limited handle on them at best. Raising interest affects other sectors of the economy - not just housing. So what can governments do? What should be the ultimate goal of housing policy?


Why Should Investors Stay Positive On The Asian Real Estate Markets?, Knowledge@Smu Jun 2009

Why Should Investors Stay Positive On The Asian Real Estate Markets?, Knowledge@Smu

Knowledge@SMU

Asia’s real estate market has weakened in tandem with lower equity prices. Singapore is no exception. Gone (for now) is the frenzied buying that marked 2007 and 2008, as everyone hunkers down for a possible protracted slump in the global economy. Many property buyers are caught with assets declining in value. Should investors thus stay away from Asia’s property market? What are the challenges facing the industry players, and is there a recovery on the horizon?


Profit Or Growth: Can Singapore's Building And Construction Industry Attain Both?, Knowledge@Smu Dec 2008

Profit Or Growth: Can Singapore's Building And Construction Industry Attain Both?, Knowledge@Smu

Knowledge@SMU

Singapore’s building and construction industry accounts for about 4% of gross domestic product. Working closely with the country's Building and Construction Authority (BCA), the Singapore Management University (SMU) recently launched a SMU-BCA advanced joint management programme to develop strategic management capabilities of senior executives in the sector. Six panelists comprising industry leaders participated afterwards in a discussion on “Profit or Growth – How to Attain Both”, moderated by SMU’s dean of executive and professional education, Annie Koh.


Subprime Lending: Did It Lead To The Real Estate Boom And Bust?, Knowledge@Smu Aug 2008

Subprime Lending: Did It Lead To The Real Estate Boom And Bust?, Knowledge@Smu

Knowledge@SMU

Is there a link between the availability of aggressive home loan lending and the price of homes? In a paper presented at the Far East and South Asian Meeting of the Econometric Society 2008, hosted by the Singapore Management University, Wharton professors Susan Wachter and Andrey Pavlov show that it is the fluctuation in the use of aggressive instruments which exacerbates the market downturns, and not the fact that such instruments generate higher default rates.


Preventing A Real Estate Bubble In Asia: Can Loan Securitisation Help?, Knowledge@Smu Jul 2007

Preventing A Real Estate Bubble In Asia: Can Loan Securitisation Help?, Knowledge@Smu

Knowledge@SMU

Real estate is among the most highly leveraged sectors of an economy, which makes it more likely than others to precipitate a financial crisis, as happened in some Asian countries in 1997-1998. At the recent East Asian Seminar on Economics (EASE) of the National Bureau of Economic Research (NBER), held at Singapore Management University, Richard Green, Roberto S. Mariano, Andrey Pavlov and Susan Wachter presented a joint paper suggesting that asset securitisation could help reduce such risks. --------------------------------------------------------------------------------


Global Hotspots In The Real Estate Business, Knowledge@Smu Nov 2006

Global Hotspots In The Real Estate Business, Knowledge@Smu

Knowledge@SMU

Emerging real estate markets in India and China, along with recovering property industries in Germany and Japan, are among the top destinations for global real estate investors, according to panelists at the Samuel Zell and Robert Lurie Real Estate Center's fall meeting. During a session titled, "Global Hot Spots -- How to Think about Hot Foreign Markets," Wharton real estate professor Peter Linneman called on each panelist to describe the markets they find most intriguing.


Going Up: Real Estate Is On The Rise Again In Japan, Knowledge@Smu Nov 2006

Going Up: Real Estate Is On The Rise Again In Japan, Knowledge@Smu

Knowledge@SMU

Nothing symbolizes Japan's bubble economy, or its subsequent long slump, more than real estate. Now, after dropping by as much as 70%, real estate prices are ticking up, signaling a renewed Japanese economy. A major restructuring of the nation's financial system, along with an injection of foreign capital and the introduction of publicly traded real estate investment trusts, are driving the real estate revival, according to Wharton faculty and real estate analysts working in Tokyo.