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Articles 1 - 18 of 18
Full-Text Articles in Finance and Financial Management
An Analysis Of The Housing Affordability Crisis: Private Equity Or Legislation Issue, Jack Polk
An Analysis Of The Housing Affordability Crisis: Private Equity Or Legislation Issue, Jack Polk
Finance Undergraduate Honors Theses
The aim of this thesis is to explore the claim that private equity investment is the cause of the modern unaffordability in the single family housing market. Through empirical study and historical research we found that the footprint of institutional investors in this space is insignificant. However, legislative errors which have artificially inflated demand and suppressed supply over the past decade have greatly contributed to the crisis and must be corrected for the long term health of the housing space. These corrections will focus primarily in the alleviation of supply pressures for new development and the continuation of the low …
Do Large Gains Make Willing Sellers?, Dong Hong, Roger Loh, Mitch Warachka
Do Large Gains Make Willing Sellers?, Dong Hong, Roger Loh, Mitch Warachka
Research Collection Lee Kong Chian School Of Business
Using unique real estate data that allow for accurately-measured capital gains, we examine whether sell propensities depend on the magnitude of a seller's capital gain. We find that short-term sell propensities are flat over losses and increasing in gains. Consistent with their higher sell propensities, selling prices are lower for properties with larger gains. Large-sized short-term stock investments also have sell propensities that are flat over losses and increasing in gains, although the sell propensities of typical-sized short-term stock investments are V-shaped (Ben-David and Hirshleifer (2012)). Our findings provide empirical support for the realization utility theories of Barberis and Xiong …
Exploring The Impact Of Stock Market Performance On The Real Estate Market, Jake Taylor
Exploring The Impact Of Stock Market Performance On The Real Estate Market, Jake Taylor
Finance Undergraduate Honors Theses
This paper goes on to analyze the impact of stock market performance on the real estate market. This is done through the analysis of the recent performance of the stock market, real estate market, and key indicators of both markets. The goal of this paper is to inform the reader of potential trends in the real estate market based on key indicators that play a large role in the stock market’s performance in order to make more knowledgeable investments.
Bank Assets Management Company (Bamc), Alexander Nye
Bank Assets Management Company (Bamc), Alexander Nye
Journal of Financial Crises
Slovenia weathered the initial shock of the Global Financial Crisis (GFC) of 2008 well enough to return to growth in 2010. However, non-performing loans continued mounting, banks experienced significant losses, and credit growth turned negative in a credit crunch. Slovenia entered a recession in 2011, experiencing the second largest GDP decline in the euro area. It was not certain whether Slovenia had the fiscal space to resolve these problems without requesting a Troika bailout from the European Commission (EC), European Central Bank (ECB), and International Monetary Fund (IMF). In late 2012 the government tried to prevent such a program by …
National Asset Management Agency (Nama), Alexander Nye
National Asset Management Agency (Nama), Alexander Nye
Journal of Financial Crises
After the Irish property boom peaked in 2007, Ireland’s banks faced declining share prices and increasing liquidity pressures. When in the aftermath of the September 2008 collapse of Lehman Brothers, Ireland’s banks lost access to liquidity from abroad, it triggered a banking crisis in the country. In spite of various responses by the Irish government, the financial viability of Ireland’s banks (as well as the government’s fiscal position) continued to deteriorate in early 2009. The Irish government attributed the problem to impaired real estate assets sitting on bank balance sheets, which made it difficult for markets to believe that government’s …
Investing In The Land Of O.Z.: The Promise Of Qualified Opportunity Zone Investing In Ameliorating Urban Blight, Lukas John Foy
Investing In The Land Of O.Z.: The Promise Of Qualified Opportunity Zone Investing In Ameliorating Urban Blight, Lukas John Foy
Undergraduate Honors Theses
In 2017, President Trump’s landmark Tax Cuts and Jobs Act introduced one of the most prolific federal incentives for real estate development in decades. In an effort to stimulate investment in neglected neighborhoods across all 50 states and five territories, the Federal Government authorized the designation of almost 9,000 blighted census tracts across the country as eligible for tax incentives. Investment in these tracts, deemed Qualified Opportunity Zones, allow investors to receive substantial capital gains deferral and possible capital gains exclusion at the end of the designated holding period, assuming they comply with the regulations of the program. While designed …
The Implementation Of Eportfolios As A High Impact Practice In The Real Estate Practice Class, Yu Liu
The Implementation Of Eportfolios As A High Impact Practice In The Real Estate Practice Class, Yu Liu
Q2S Enhancing Pedagogy
I would like to implement the ePortfolio to my Fin 481 Real Estate Practice course. Real Estate Practice course introduces students to a broad spectrum of practical issues and activities in real estate markets. It provides the opportunity for the students to get an in-depth understanding of the real estate business. Subjects include Understand Real Estate Market; Math for Real Estate; Buying Real Estate, Mortgage, Escrow, Title Company, Inspection, Home Insurance Company; Selling Real Estate, Repairing, Brokerage, Staging; Comparative Market Analysis; Brokerage and Marketing Strategies; Investing in Real Estate Market, Debt Utilization; Flipping and Wholesaling; Construction Fundamentals; Legal Protection and …
A Case Study On Whether A Business Should Own Or Lease Its Real Estate, Benjamin Cooper
A Case Study On Whether A Business Should Own Or Lease Its Real Estate, Benjamin Cooper
Finance Undergraduate Honors Theses
Businesses are continually faced with many difficult decisions to make daily that can have a significant impact on their success. Whether it is if they should adopt a new accounting practice, work with a new supplier, or push into a new consumer sector, these decisions will affect their operations and long-term plans. One of these major decisions that a business has to make is whether they should own or lease their real estate. Depending on the size, type, and scope of a business this decision could be made differently but for certain companies there is definitely a correct answer. Buying …
Using Buy And Rent Discrepancies To Predict Real Estate Bubbles, Jonathan K. Niehaus
Using Buy And Rent Discrepancies To Predict Real Estate Bubbles, Jonathan K. Niehaus
Honors Theses
The cost of housing is one of the biggest recurring expenses Americans face. Real estate is also one of the largest asset classes of investments today. The decision of whether or not it is the right time to purchase a piece of residential real estate can be difficult for the everyday person as well as professionals. With the recent downturn of 2008, many people are reminded that the price of houses can spiral upward, and if one bought at the wrong time, their house could lose a tremendous portion of its value. This study focuses on looking at different economic …
Three Essays On Entry Barriers And Incentives In Labor Markets, Samuel Ingram
Three Essays On Entry Barriers And Incentives In Labor Markets, Samuel Ingram
Theses and Dissertations--Economics
Occupational choice at the margin depends on both the incentives for entry and barriers to entry. The primary entry barrier determined by regulation is an occupational license. These are government laws determining the minimum qualifications to enter an occupation including education, testing, fees, and background checks. These regulations are currently enforced on 25% of the US labor market. The laws are crafted to protect consumers from unsafe goods and services but also have important consequences in labor market outcomes. The consequences may include fewer workers entering the profession, changes to which workers enter the profession, and altering competition, all of …
Financing Strategies For Real Estate Investments, Joshua Parr
Financing Strategies For Real Estate Investments, Joshua Parr
Williams Honors College, Honors Research Projects
Most people have a dream of being financially independent and in order to do so it is necessary to save and invest their money. The key is to invest wisely so that one can earn a solid return on their money. Real estate investments are a great way to build wealth because of the benefits they have over other investments. Many are under the misconception that they cannot invest in real estate because of a lack of capital. This belief is entirely untrue and there are dozens of different strategies for investing in real estate with little or no capital …
The Effect Of Mortgage Timeline On The Investor's Portfolio, Grace Marie Wylie
The Effect Of Mortgage Timeline On The Investor's Portfolio, Grace Marie Wylie
Senior Theses
This thesis project creates a hypothetical situation in which individuals choose either a thirty-year or fifteen-year fixed-rate mortgage on the same house at the same time and uses historical data to simulate the stock portfolios resulting from investment strategies based on this choice. Both strategies have the same time horizon and total monthly payment, so investors should be indifferent between the two. Using the fifteen-year strategy, the investor pays a higher mortgage payment every month for fifteen years then invests the entire amount of the payment in the stock market monthly for the next fifteen years. Using the thirty-year strategy, …
Commonalities Of Asset Pricing Bubbles, Lauren Frances Pensegrau
Commonalities Of Asset Pricing Bubbles, Lauren Frances Pensegrau
Senior Theses
The focus of this thesis will be to examine the similarities between the 2007-2008 Subprime Mortgage Crisis and other crises resulting from the collapse of an asset pricing bubble throughout United States financial history. Particular emphasis will be placed on the real estate and stock bubbles of the 20th century, including the events leading up to the Great Depression and the Savings and Loan (S&L) crisis of the late 1980s. I explore commonalities throughout the life cycle of a bubble, from the catalysts that lead to bubble formation, to the drivers that fuel both expansion and collapse, and finally, the …
Two Essays On Individuals, Information, And Asset Prices, Joseph Mohr
Two Essays On Individuals, Information, And Asset Prices, Joseph Mohr
USF Tampa Graduate Theses and Dissertations
In the first essay we explore and establish a direct link between investor attention to advertising videos viewed on social media, and trading activity in a firm's securities. We find a positive relation between views of these advertising videos and volume, and a negative relationship between views and bid-ask spread. Returns are positively related to change in views. The positive price pressure is reversed over the following two weeks. The decreases in spread and temporary increase in returns are consistent with increased purchasing by individual investors who view the advertising videos. Our results support the hypothesis that the number of …
Us Real Estate Investment Performance: 1983-2012, John F. Kerrigan
Us Real Estate Investment Performance: 1983-2012, John F. Kerrigan
Honors Theses and Capstones
This study provides an overview of real estate investment performance over a 1983-2012 time period. The results show that although equity REITs outperformed all other assets on average annual return, on a risk-adjusted basis both private retail and apartment real estate outperformed all other assets. The study also found a recent trend in increased correlation between common stocks and REITs.
Reits And Stock Market Cointegration, Jessie E. Felix
Reits And Stock Market Cointegration, Jessie E. Felix
Open Access Theses & Dissertations
Real Estate is popular among investors looking for attractive total returns, predictable price movements, and low correlations to the general equity markets. The financial crisis of 2007 led by real estate mortgage defaults led to a universal bear market, and a credit freeze which impacted REITs ability to raise capital. REITs long viewed perception as a distinct asset class was questioned as a result. Research analyzing REITs long run trends find evidence of an existing long run relationship between REITs, and the S&P. This paper employs the same cointegration framework of prior studies using a longer sample period, and favors …
Reit White Paper, Frederic Juillet
Reit White Paper, Frederic Juillet
Frederic Juillet
Subject: Resulting from the recent financial crisis, this white paper discusses how to better defend shareholders’ investments in Real Estate Investment Trusts (REITs) for the long-term and how to reduce volatility in the REITs market.
Does The Reit Tale Wag The Dog? The Relationship Between Tenant Ownership And The Volatility Of Retail Reit Stock Returns, Dana G. Staley
Does The Reit Tale Wag The Dog? The Relationship Between Tenant Ownership And The Volatility Of Retail Reit Stock Returns, Dana G. Staley
CMC Senior Theses
This paper will assess the relationship between tenant characteristics and public REIT volatility. Specifically, we focus on the retail REIT subset of the industry. Given that retail REITs are one the most transparent asset classes, they provide an interesting landscape for evaluating the relationship between the firm and the customers, or in this case, the tenants. Specifically, we assess how major tenant ownership, public or private equity owned, impacts the volatility of the REIT’s stock price using 2010 data on 30 retail REITs. Controlling for tenant credit quality, leverage, ROE, book-to-market, size, age, region and property focus, we find that …