Real Estate Commons^™

Site Value Tax, Tom Dunne

Articles

Tom Dunne discusses some of the issues surrounding property taxation in Ireland

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 …

Principal-Agent Conflict And Seller's Strategy Approaching Listing Contract Expiration, Zhenyu Zhang

Theses & Honors Papers

Real estate markets are excellent venues in which to study principal-agent incentive misalignments. Buyers and sellers who face relatively higher information costs rely on agents to reduce information costs and to assist their negotiation. Previous literature has focused on a typical dilemma real estate gents face - sales price versus time on market (TOM). This paper analyzes sellers' behavior when an exclusive listing contract nears unsuccessful expiration.

Solving The Problem Of Toxic Property And Construction Loans- The Case Of Ireland's National Asset Management Agency., Thomas Power

Conference papers

Ireland experienced rapid economic growth between 1994 and 2004. This economic performance prompted the Economist magazine to coin the phrase ‘The Celtic Tiger’ to describe the Irish experience. However, during the ‘boom period’ banks did not have enough funds from deposits and had to rely on the inter-bank market for funds. Consequently with the collapse of the sub-prime market and the global banking crisis, the banking systems reliance on inter-bank lending resulted in toxic property and construction loans. In essence the property/construction bubble burst, the banks are broke and there is a need to rescue them. The government’s solution …

Brewery Blocks West, Ben Gates, Tom Heinicke, Jared Hendricks, Brad Johnson, Atha Mansoory, Michael Shall, Will Thier, Jonathan Winslow

Real Estate Development Workshop Projects

Students from Portland State University's Center for Real Estate produce a development plan for a site in Portland's Pearl District.

Their task was to produce an original development plan, including the development concept, market analysis, conceptual design, economic analysis, capital and operations budget, and management plan.

Changing Patterns Xvi: Mortgage Lending To Traditionally Underseved Borrowers & Neighborhoods In Boston, Greater Boston And Massachusetts, 2008, Jim Campen

Gastón Institute Publications

This is the sixteenth in the annual series of Changing Patterns reports prepared for the Massachusetts Community & Banking Council (MCBC) by the present author. The series is aptly named: mortgage lending since 1990 has indeed been characterized by “changing patterns.” In recent years, the major focus of the series shifted from concern for fair access to credit for traditionally underserved borrowers and neighborhoods to concern for access to fair credit for these same borrowers and neighborhoods. This reflects the extent to which the problem of redlining had become overshadowed by the problem of reverse redlining, whereby areas that …

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

Shishir Mathur

No abstract provided.

The Underlying Factors Of Regional U.S. Hotel Market Resiliency Post 9/11, Beaumont L. Heidrich

CMC Senior Theses

I was interested in researching the underlying factors that drove resiliency in regional U.S. hotel markets. I did this by conducting an empirical analysis of twenty nine different markets post September 11 and investigating general, leisure and business variables. I concluded that leisure variables were the underlying drivers of resiliency in regional U.S. hotel markets.

I then conducted an event study to try to apply my findings to stock market prices of publicly traded hotel companies. Although it was a challenge to differentiate between companies that depended more on leisure versus business customers due to their asset diversification, I categorized …

Forecasting The Inland Empire's Economic Recovery, Jesse C. Franklin

CMC Senior Theses

The Inland Empire -Riverside and San Bernardino Counties - was one of the hardest hit areas in all of the United States during the Great Recession. Home prices have declined over 50%, significantly more than the 25% decline in the surrounding Los Angeles County, and housing starts have declined to over 90% from 2005. The Inland Empire has one of the highest unemployment rates in the US at 14.8%. This paper attempts to forecast the recovery for the Inland Empire. Employing univariate forecasts along with VAR(12) forecasts, focusing on housing starts and unemployment rates as the underlying variables, we find …

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

Faculty Publications, Urban and Regional Planning

No abstract provided.