Housing Market Research Papers - Academia.edu (original) (raw)

While housing research in the developed world illustrates rental information channels, little is known about the situation in developing countries. This study examines the channels of information that are used in the private rental... more

While housing research in the developed world illustrates rental information channels,
little is known about the situation in developing countries. This study examines the
channels of information that are used in the private rental housing market by renters
using Kumasi metropolis in Ghana as a case study. Using qualitative research methods
involving interviews, findings show that unlike the developed world where rental
information is readily available online, renters rely on a network of friends, relatives,
co-worshippers and informal agents to find rental properties. A personal search is also
common amongst renters. The use of these channels of information is founded on the
absence of publicly available rental data. It is suggested that the rental space be
regulated as a starting point to ensuring more formality and a better flow of information
in the rental market.

Mains water temperature (T{sub mains}) has significant influence on the energy consumption of water heating equipment. It is dominantly influenced by ambient temperature (T{sub amb}). Since T{sub amb} is roughly an annual sinusoid, T{sub... more

Mains water temperature (T{sub mains}) has significant influence on the energy consumption of water heating equipment. It is dominantly influenced by ambient temperature (T{sub amb}). Since T{sub amb} is roughly an annual sinusoid, T{sub mains} is assumed to be a sinusoid whose mean value varies directly with annual average temperature T{sub amb},{sub ann}. Model parameters are based on water system physics and include: (i) a constant offset from T{sub amb},{sub ann}; and (ii) amplitude and phase which vary linearly with T{sub amb},{sub ann}. Available T{sub mains} data indicate that the offset is 6 oF, and that the amplitude is 0.4T{sub amb} Uncertainties include: (i) data quality issues, including bias of T{sub mains} data from heat exchange with house air; (ii) inherent spatial variations in mains networks, and (iii) limited data sets. Future work includes acquiring quality data sets, testing the model in northern climates, and refining parameter estimates.

This article presents the results of interviews conducted in Portugal within the European research project "Demographic change and housing wealth" ("DEMHOW"). In a changing society facing demographic and welfare... more

This article presents the results of interviews conducted in Portugal within the European research project "Demographic change and housing wealth" ("DEMHOW"). In a changing society facing demographic and welfare challenges, households\u27 strategies regarding retirement and care depend on variables such as age and family structure. Generally speaking, the importance of the family combined with homecare support is still largely evident. However, people without children seem more reliant on institutional care and keener on using all their available resources to pay for it. Within this framework, homeownership and housing equity could, of course, be central. However, in Portugal, the house, although recognised as potentially important in retirement, is envisaged more as a home, i.e. as an emotional pillar and a source of security than as an asset that can be managed in the market.Prispevek prikazuje rezultate intervjujev, ki smo jih na Portugalskem izvedli v okviru ...

When it comes to the topic of apartment sizes, planners and local authorities should keep this old adage to the forefront of their minds: less is not more. Ireland's size standards for residential housing have tended to... more

When it comes to the topic of apartment sizes, planners and local authorities should keep this old adage to the forefront of their minds: less is not more. Ireland's size standards for residential housing have tended to followBritain's since about the 1940s. The UK has been producing ever-smaller units and with, in effect, no minimum national standard, it has the smallest homes in western Europe. This is not a trend we need to follow. Minimum space standards for a one-bedroomapartment in Dublin reduced from 484 sq ft in 1961 to 344 sq ft in 1987—and finally up to a more habitable 592 sq ft in 2011. The damage had been done, with undersized units already having been built, but better late than never.

Summary: This article presents an integrated vision of the context of the residential real estate market in Portugal. It analyses the evolution of several macroeconomic indicators during the last decade. The article is complemented with... more

Summary: This article presents an integrated vision of the context of the residential real estate market in Portugal. It analyses the evolution of several macroeconomic indicators during the last decade. The article is complemented with the analysis of the house prices, where an evaluation of average prices of apartments in Portugal according to different typologies and regions have been done. Regarding the market environment, several indicators are assessed, such as the evolution of interest rates, the evolution of households' credit, the consumption and construction confidence indexes and the evolution of foreign direct investment in housing. The conclusion is that after a booming period, the future of the real estate market is somehow worrying.

This paper documents and explains previously unrecognized post-crash dynamics following the collapse of a housing bubble. A simple model predicts that speculative developers ensure stable pre-crash relative prices between small and large... more

This paper documents and explains previously unrecognized post-crash dynamics following the collapse of a housing bubble. A simple model predicts that speculative developers ensure stable pre-crash relative prices between small and large homes while their post-crash exit allows small-home relative values to fall. Evidence from Phoenix supports the model. Although home prices doubled 2004-2006, relative prices of small-to-large homes remained nearly constant but then plummeted post-crash. As speculative developers return relative prices must return to pre-boom levels, consistent with patterns since 2011. Anticipated mean reversion indicates that cities can reduce post-crash volatility and mispricing by publicizing size-stratified house price indexes.

The paper reports on the application to land taxation, of the RELU-TRAN model, a spatially detailed general equilibrium model of a regional economy that treats labor and building markets, production of goods and services and real estate... more

The paper reports on the application to land taxation, of the RELU-TRAN model, a spatially detailed general equilibrium model of a regional economy that treats labor and building markets, production of goods and services and real estate development. The model is used to investigate the efficiency gains that can be obtained by switching from the conventional ad-valorem property tax (CPT) to a uniform ad-valorem land tax (ULT) on residual imputed land value. The ULT is not a perfectly neutral tax but it has the advantage that it is relatively easily implementable and the fact that it is proportional to imputed land value, makes the ULT fair and defensible. The simulations are done by using the Los Angeles version of RELU-TRAN, calibrated for the year 2000. Three types of tax switches are evaluated. In the first, the CPT revenue is fully replaced by the ULT revenue and higher levels of the ULT are examined. In the second and third simulations the ULT is used in place of the CPT. In the...

Die Unternehmensreputation hat sich im Zeitalter der Globalisierung und Digitalisierung zu einem der wichtigsten Erfolgsfaktoren entwickelt. Die Wissenschaft begleitet diese Entwicklung durch intensive theoretische und empirische... more

Die Unternehmensreputation hat sich im Zeitalter der Globalisierung und Digitalisierung zu einem der wichtigsten Erfolgsfaktoren entwickelt. Die Wissenschaft begleitet diese Entwicklung durch intensive theoretische und empirische Forschungsarbeiten. Trotz unzureichender Datensatze besteht weitgehend Konsens daruber, dass eine gute Reputation ein nachhaltiger Wettbewerbsvorteil ist, der allerdings durch Unternehmenskrisen leicht eingebust werden kann. Der vorliegende Forschungsbericht fasst im theoretischen Teil die wichtigsten Ergebnisse der Reputationsforschung zusammen. Im empirischen Teil werden drei Untersuchungen zur Unternehmens- und CEO-Reputation vorgestellt. Alle drei sind die grosten ihrer Art im deutschsprachigen Raum, die Erhebung der CEO-Reputation ist methodisch und vom Umfang her sogar weltweit einzigartig. Die Ergebnisse belegen eine grose Spannweite der Reputation sowohl bei Unternehmen als auch CEOs. Zwar spielen Brancheneffekte eine wichtige Rolle, sie sind jedoch...

Housing allowances aim at providing adequate and affordable housing. This paper seeks to evaluate whether renting is indeed affordable with a new approach based on actual housing financial hardship. A theoretical discussion and literature... more

Housing allowances aim at providing adequate and affordable housing. This paper seeks to evaluate whether renting is indeed affordable with a new approach based on actual housing financial hardship. A theoretical discussion and literature review show why it is challenging for housing allowances to actually shield households from financial hardship. An empirical application, using National French Housing Survey data studies financial outcomes. This is one of the scarce applications of a probit model for financial hardships with a double sample selection (being a tenant, and being eligible for means-tested allowances). Estimation results show that housing allowances help to cope with some life events but that otherwise their recipients remain more exposed to housing financial hardship than their counterparts. The gap between recipients and non-recipients is larger for the households with children than for those without despite the goal of horizontal equity.

We propose that neighborhoods have a measurable effect on housing prices. In theory, searching for houses by neighborhood can be seen as a heuristic process, reducing the time and effort needed to evaluate a plethora of particular local... more

We propose that neighborhoods have a measurable effect on housing prices. In theory, searching for houses by neighborhood can be seen as a heuristic process, reducing the time and effort needed to evaluate a plethora of particular local attributes that are associated with the price premium of the house. To test this hypothesis, we estimate the neighborhood's fixed effect that picks up the time-invariant quality of the area within the framework of a hedonic housing price model. Our data base encompasses more than 50,000 housing market transactions in Charleston, South Carolina. Our regression fits the data extremely well, with the neighborhood fixed effect exerting a pronounced effect on regression results and outperforming significantly alternative local areal units. The fixed effect estimates are ultimately rank-ordered to evaluate their heterogeneous effect on the housing price premium. The analysis reveals that neighborhood fixed effects capture effectively the wide range of house price premiums, from high-priced historic districts and ocean-side communities to low-price, povertystricken areas damaged by urban redevelopment. In addition, our approach to using spatial fixed effect estimates as a tool to measure the brand effect of regions can be used to assess the value of regional identity in other contexts like industry location and migration. The second important contribution we make to the literature is a new method of estimating the Moran's I in large data sets. Based on our simplified Moran's I tests, we show that spatial dependence is effectively eliminated when the neighborhood fixed effects are added to the model. This original econometric tool can be applied to a wide range of urban and regional research.

This study aims to clarify the correlation between the transformation of the Japanese housing market and the increasing number of single-person households in Japan, with a special focus on the supply of compact condominiums. In order to... more

This study aims to clarify the correlation between the transformation of the Japanese housing market and the increasing number of single-person households in Japan, with a special focus on the supply of compact condominiums. In order to achieve the abovementioned purpose, the changes in the Japanese housing market and diversification of the Japanese household structure are described. Finally, the features of the supply strategies of condominium suppliers, which reflect the diversification of the household structure and increasing need for condominiums by single-person households in central Tokyo, are examined.

Ethnic segregation is consolidated by differences between ethnic groups with regard to their moving decision. Using unique registration data on population flows between neighbourhoods, the paper shows that native Dutch living in... more

Ethnic segregation is consolidated by differences between ethnic groups with regard to their moving decision. Using unique registration data on population flows between neighbourhoods, the paper shows that native Dutch living in neighbourhoods where ethnic minorities are overrepresented are more likely to move than minority ethnic residents. Moreover, they move much more often to `White' neighbourhoods. Urban policies in the Netherlands focus on countering this tendency to segregation, but are based on simplified assumptions with regard to the causes of residential segregation. Relatedly, the optimism about the positive effects of social mix is hardly substantiated by empirical research.