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Full-Text Articles in Real Estate

Bubbly Booms And Welfare, Feng Dong, Yang Jiao, Haoning Sun Jul 2024

Bubbly Booms And Welfare, Feng Dong, Yang Jiao, Haoning Sun

Research Collection School Of Economics

We show the competing effects of a housing bubble on the real economy by developing a multi-sector dynamic model with housing production. On the one hand, firms can sell or collateralize their housing, so a housing bubble helps firms obtain credit to finance their investment and expand production. On the other hand, a boom in the housing sector crowds out labor in the non-housing sector. We show that housing booms can reduce social welfare both in the steady state and in the transitional dynamics only when the production externalities in the non-housing sector are sufficiently large. We quantitatively evaluate our …


Harnessing Technology To Solve Social Problems, Ian Hassell Jun 2024

Harnessing Technology To Solve Social Problems, Ian Hassell

SMU Human Trafficking Data Conference

No abstract provided.


Assessing Impact Of Urban Densification On Outdoor Microclimate And Thermal Comfort Using Envi-Met Simulations For Combined Spatial-Climatic Design (Cscd) Approach, Shreya Banerjee, Rachel X.Y. Pek, Sin Kang Yik, Graces N. Ching, Xiang Tian Ho, Dzyuban Yuliya, Peter J. Crank, Juan A. Acero, Winston T. L. Chow Jun 2024

Assessing Impact Of Urban Densification On Outdoor Microclimate And Thermal Comfort Using Envi-Met Simulations For Combined Spatial-Climatic Design (Cscd) Approach, Shreya Banerjee, Rachel X.Y. Pek, Sin Kang Yik, Graces N. Ching, Xiang Tian Ho, Dzyuban Yuliya, Peter J. Crank, Juan A. Acero, Winston T. L. Chow

Research Collection College of Integrative Studies

Future urban planning requires context-specific integration of spatial design and microclimate especially for tropical cities with extreme weather conditions. Thus, we propose a Combined Spatial-Climatic Design approach to assess impact of urban densification on annual outdoor thermal comfort performance employing ENVI-met simulations for Singapore. We first consider building bylaws and residential site guidelines to develop eight urban-density site options for a target population range. We further classify annual weather data into seven weather-types and use them as boundary conditions for the simulations. Comparing such fifty-six combined spatial-climatic simulation outputs by analyzing Outdoor Thermal Comfort Autonomy, we report the influence of …


The Safest Suburbs In The Mountain West, 2023, Ivan Sun, Zachary Billot, Caitlin J. Saladino, William E. Brown Jr. May 2024

The Safest Suburbs In The Mountain West, 2023, Ivan Sun, Zachary Billot, Caitlin J. Saladino, William E. Brown Jr.

Cities & Metros

This fact sheet presents data from the Smart Asset report, “America’s Safest Suburbs – 2023 Study,” which examines the 370 safest suburbs in the United States and the 35 most affordable safest suburbs. This fact sheet focuses on data for the nine safest suburbs and most affordable safe suburbs in the Mountain West states of Arizona, Colorado, Nevada, and Utah ranking among the top 100 safest suburbs in the United States.


The Effects Of Short-Term Rentals On Communities And How To Legislate Them: An Expanded Literary Review, William Cherry May 2024

The Effects Of Short-Term Rentals On Communities And How To Legislate Them: An Expanded Literary Review, William Cherry

Finance Undergraduate Honors Theses

A literary review of the economic and socioeconomic effects of short-term rental properties, specifically the commercialization of the industry based upon other research studies. An in-depth look at how commercialized short-term rentals effect the younger generation, hospitality industry, housing market, communities they reside in, and other externalities. A further review of different legal case studies of short-term rental legislation in major cities across the globe and their varying degrees of effectiveness.


Exploring The Intersection Between West Virginia Farmland Protection Boards, Landowners, And The West Virginia Agrarian Commons, Samuel W. Bayne, Joshua Lohnes Apr 2024

Exploring The Intersection Between West Virginia Farmland Protection Boards, Landowners, And The West Virginia Agrarian Commons, Samuel W. Bayne, Joshua Lohnes

Undergraduate Scholarship

New Roots Community Farm (NRCF) came to life through the purchase of a piece of land by the Fayette County Farmland Protection Board in a buy-protect-sell model. NRCF then partnered with The Agrarian Land Trust, a New England based organization experimenting with land commons models across the United States, to purchase the property and create the West Virginia Agrarian Commons (WVAC), an entity that could advance land access for the next generation farmers in WV. The experience of NRCF and the WVAC and the vision for its operation and extension of the buy-protect-sell model in partnership with county farmland protection …


Disparities In Housing Affordability By Income, Housing Tenure, And Race In Us Census-Designated Regions, Jeffery S. Bredthauer, Javed Iqbal, Christopher Decker Apr 2024

Disparities In Housing Affordability By Income, Housing Tenure, And Race In Us Census-Designated Regions, Jeffery S. Bredthauer, Javed Iqbal, Christopher Decker

Mountain Plains Journal of Business and Technology

This analysis demonstrates that there are significant regional disparities in housing affordability among US Census-designated regions, with the Northeast and West consistently bearing the highest costs. Over time, the burdens incurred by both owners and tenants have lessened, but renters' burdens have grown considerably. Furthermore, significant regional differences in severely cost-burdened households are highlighted. The Northeast has more severely cost-burdened households than the Midwest, South, or West. There are also significant ethnic differences: Asian Americans experience a slightly lower housing cost burden, while African Americans and Native Americans bear the greatest burden, followed by Hispanics. To address these problems, legislative …


Education And Advocacy For Universal Design And Accessibility In Housing, Apisara Vairojanakich, Amy Lyons-Brown, Molly Wuebker Apr 2024

Education And Advocacy For Universal Design And Accessibility In Housing, Apisara Vairojanakich, Amy Lyons-Brown, Molly Wuebker

Spring 2024 Virtual OTD Capstone Symposium

In the United States, there is a lack of adequate numbers of universally designed and accessible houses in the housing market for the older population and people with disabilities. Many barriers, such as financial support and lack of knowledge for housing-related professionals, can prevent this population from participating in home occupations. The project developed educational products, including the universal design housing experience booklet, universal design housing checklist, and universal design blueprints. These products were delivered through the blog post on Uncurbed LinkedIn website. The needs assessment was conducted to provide the guidelines for the chapters in the booklet and checklist. …


The Use Of Personal Disruption Strategies By Female Executives In The Property Management Industry For Career Advancement, Lorri Oliver Feb 2024

The Use Of Personal Disruption Strategies By Female Executives In The Property Management Industry For Career Advancement, Lorri Oliver

Dissertations

Purpose: This explanatory mixed-method study aimed to identify and describe the perceived impact of Johnson and Mohr’s (2019) five disruptive career skills on female property managers’ advancement to executive leadership positions.

Methodology: This mixed method study identified and described the impact of the disruptive behaviors of eight female executives in the property management industry across the United States. The researcher gained a transparent view of female property management executives using quantitative and qualitative research methods.

Findings: Females who challenge and influence authority are more likely to challenge authority figures by providing indisputable facts and using influence tactics. Females are typically …


Warmth Of The Welcome: Immigration And Local Housing Returns, Xun Bian, N. Edward Coulson, Xiaojin Sun Jan 2024

Warmth Of The Welcome: Immigration And Local Housing Returns, Xun Bian, N. Edward Coulson, Xiaojin Sun

Hunt Institute Working Paper Series

We study the effect of immigration on home values in the U.S. Applying a county-level instrument for immigration, we find that immigration increases local house price appreciation and decreases its within-county spatial dispersion. Our estimates suggest that, on average, a one percentage point in- crease in the immigrant share of the local population raises house price appreciation by approximately 7 percent and reduces the dispersion of housing return within a county by about 1.5 percentage points. We also show that such effects are strikingly heterogeneous across counties and appear to be deter- mined by local culture. Using several proxies for …


Shadow Bank, Risk-Taking, And Real Estate Financing: Evidence From The Online Loan Market, Xiaoying Deng, Chong Liu, Eng Seow Ong Jan 2024

Shadow Bank, Risk-Taking, And Real Estate Financing: Evidence From The Online Loan Market, Xiaoying Deng, Chong Liu, Eng Seow Ong

Research Collection Lee Kong Chian School Of Business

This paper examines whether and how individual risk-taking behavior affects real estate financing through shadow banks. Using the loan data from an online platform in China, we show that riskier households tend to employ online loans to meet the increasing down-payment in their home purchase. Individual investors are likely to fund riskier real estate loans with higher expected returns. Real estate loans experience higher ex-post default rates than other types of loans. The effect is more pronounced during the period of credit constraints.


Riding The Real Estate Wave Along Maine's Coast, Ryan Swanson Dec 2023

Riding The Real Estate Wave Along Maine's Coast, Ryan Swanson

Maine Policy Review

A review of Maine's coastal real estate market that explores the reason why the area is so appealing, to whom, and what that means.


Within-Development Density And Housing Prices In Singapore, Eric Fesselmeyer, Haoming Liu, Louisa Poco Nov 2023

Within-Development Density And Housing Prices In Singapore, Eric Fesselmeyer, Haoming Liu, Louisa Poco

Research Collection College of Integrative Studies

This paper measures how much more households pay for less density in their immediate surroundings. Using transaction and administrative data and exploiting the introduction of a regulation that restricted the number of housing units for certain land lots, we find that households discount density: a 10% increase in within-development density decreases the price per square meter by 5%. Further, the mean price per square meter of the average development increased by 1%–3% after the regulation was introduced, while the amount of built-up space remained constant. The increase in total revenue suggests developers may underestimate the externality caused by density.


House Bubbles, Global Imbalances And Monetary Policy In The Us, Anastasios Evgenidis, A. (Tassos) G. Malliaris Nov 2023

House Bubbles, Global Imbalances And Monetary Policy In The Us, Anastasios Evgenidis, A. (Tassos) G. Malliaris

School of Business: Faculty Publications and Other Works

This paper examines the factors driving housing price exuberance in the United States, specifically the influence of expansionary monetary policies and the global saving glut. We employ medium scale Bayesian VAR and time-varying VAR models to estimate the effects of monetary policy and global saving glut shocks on US housing bubbles. We find that, prior to the Global Financial Crisis, the impact of the saving glut shock is more enduring, powerful, and rapid in generating housing bubbles compared to monetary policy shocks. However, the recent housing boom that commenced in 2019 demonstrates a different pattern. Our results suggest that both …


Priced Out Of Housing In The Mountain West, 2022, Maryam Raja, Caitlin J. Saladino, William E. Brown Jr. Oct 2023

Priced Out Of Housing In The Mountain West, 2022, Maryam Raja, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet presents data from the National Association of Home Builder (NAHB) 2022 report on "priced out estimates" and the consequences of increased prices and interest rates on homes. Data are included from NAHB on home affordability for median home prices in five Mountain West states and 25 metropolitan statistical areas (MSAs).


Housing Fever In Australia 2020-23: Insights From An Econometric Thermometer, Shuping Shi, Peter C. B. Phillips Sep 2023

Housing Fever In Australia 2020-23: Insights From An Econometric Thermometer, Shuping Shi, Peter C. B. Phillips

Research Collection School Of Economics

Australian housing markets experienced widespread and, in some cases, extraordinary growth in prices between 2020 and 2023. Using recently developed methodology that accounts for fundamental economic drivers, we assess the existence and degree of speculative behaviour, as well as the timing of exuberance and downturns in these markets. Our findings indicate that speculative behaviour was indeed present in six of the eight capital cities at some time over the period studied. The sequence of events in this nation-wide housing bubble began in the Brisbane market and concluded in Melbourne, Canberra, and Hobart following the interest rate rise implemented by the …


Three Essays On Civil Disturbances, Crime, And Housing Markets, Noel Ritchey Aug 2023

Three Essays On Civil Disturbances, Crime, And Housing Markets, Noel Ritchey

Electronic Theses and Dissertations, 2020-

In these three essays, I examine the relationship between housing prices and civil disturbances. In the first essay, I examine the Ferguson Unrest in 2014 following the killing of Michael Brown. Using a hedonic model and a repeat sales model using data from ZTRAX, I find a highly significant negative affect around the events temporally and spatially. In the second essay I examine house price indices across the US during the onset of COVID and during the protests following the killing of George Floyd. I use the Zillow Home Value Index and I find cities which experienced protests experienced less …


The Impact Of Upzoning On Housing Construction In Auckland*, Ryan Greenaway-Mcgrevy, Peter C. B. Phillips Jul 2023

The Impact Of Upzoning On Housing Construction In Auckland*, Ryan Greenaway-Mcgrevy, Peter C. B. Phillips

Research Collection School Of Economics

There is a growing debate about whether upzoning is an effective policy response to housing shortages and unaffordable housing. This paper provides empirical evidence to further inform debate by examining the various impacts of recently implemented zoning reforms on housing construction in Auckland, the largest metropolitan area in New Zealand. In 2016, the city upzoned approximately three quarters of its residential land to facilitate construction of more intensive housing. We use a quasi-experimental approach to analyze the short-run impacts of the reform on construction, allowing for potential shifts in construction from non-upzoned to upzoned areas (displacement effects) that would, if …


Proxies Of Design: A Case Study And Analysis Of Place And Commercial Real Estate In Seattle, Nicholas Miranda Jun 2023

Proxies Of Design: A Case Study And Analysis Of Place And Commercial Real Estate In Seattle, Nicholas Miranda

University Honors Theses

What kinds of relationships exist between individual buildings and greater society in Seattle? Focusing on the role of design in shaping the value and desirability of commercial properties, the study examines and utilizes a large temporal and spatial dataset to test price analogs between common building attributes and metrics. By employing a hedonic pricing model, the study seeks to identify the impact of these attributes on property values and ultimately relate them to architectural and contextual design, from a micro to a macro level. The empirical findings are not necessarily novel or groundbreaking, but rather, they shed light on the …


Business Analysis And Recommendations For Timber, Jared Alexander Jun 2023

Business Analysis And Recommendations For Timber, Jared Alexander

University Honors Theses

To close out my PSU school of business experience, I've been placed on a team with five other classmates in the School of Business honors program cohort to help a business owner with some hurdles they are facing in their ventures. Throughout the last nine weeks, my teammates and I conducted a lot of research, and gave four presentations to the business owner. Our final presentation highlighted our final recommendations. The name of the business owner and company have been anonymized for confidentiality. All images featuring the name or logo of the company have been covered.

In this capstone review, …


An On-Ramp To Financial Inclusion: Measuring The Impact Of Mercy Corps' Community Investment Trust Program On Minority Investors, Lexi Yokote Jun 2023

An On-Ramp To Financial Inclusion: Measuring The Impact Of Mercy Corps' Community Investment Trust Program On Minority Investors, Lexi Yokote

University Honors Theses

Mercy Corps' Community Investment Trust (CIT) was launched in 2017 as a low-risk real estate investment and education initiative. The program is now working to replicate this in cities across the United States. However, it has not been able to collect much feedback from existing investors about their experiences and needs. This paper will use primary and secondary research in the form of a literature review and original surveys to collect information about investor demographics, attitudes toward the CIT and investing, risk perceptions, and future investment plans. The results show that U.S.-born versus foreign-born status, ethnicity, and gender affect the …


Two Essays In Real Estate Dynamics, Navid Safari Jun 2023

Two Essays In Real Estate Dynamics, Navid Safari

Theses and Dissertations in Business Administration

Real estate dynamics encompass a multifaceted interplay of various factors that shape the market. This dissertation presents two distinct essays that delve into critical aspects of real estate dynamics.

In the first essay, we investigate the influence of short-term rentals, specifically Airbnb activity, on neighboring house prices in Hampton Roads, Virginia. By employing robust measures such as active listings, reservations, and their cumulative impact over different periods, we uncover a positive association between prior Airbnb rental activity and housing sales prices. Moreover, we observe a spatial decay effect, where the localized impact diminishes with increasing geographic distance, particularly beyond 500 …


Profitability Analysis Of The Commons, Chloe E. Meyer Jun 2023

Profitability Analysis Of The Commons, Chloe E. Meyer

Construction Management

Given the current saturated housing market, prices of single-family dwellings have exponentially increased. Due to this housing crisis, alternative housing approaches need to be considered. One potential solution to increasing the supply of affordable housing units is a tiny house village community. Tiny house communities can carry with them a stigma of rundown looks and an RV park aesthetic, but they don't need to. Tiny house communities, at their best, can be thriving communities that are anchored in communal living, shared resources, and affordability.The Commons is a proposed tiny house village development that would be located on 1.6 acres. The …


Asset-Rich And Cash-Poor: Which Older Adults Value Reverse Mortgages?, Joelle H. Fong, Olivia S. Mitchell, Benedict S. K. Koh May 2023

Asset-Rich And Cash-Poor: Which Older Adults Value Reverse Mortgages?, Joelle H. Fong, Olivia S. Mitchell, Benedict S. K. Koh

Research Collection Lee Kong Chian School Of Business

Home equity represents a substantial share of retirement wealth for many older persons, particularly in Asia where national housing policies have encouraged home-ownership. This paper explored the potential for reverse mortgages to help 'asset-rich and cash-poor' older Singaporeans unlock their home equity while ageing in place. The empirical analysis was based on a nationally representative survey of home-owners age 50+ in the 2018 Singapore Life Panel (N = 6,258). Our analyses showed that the average older home-owner holds some 60 per cent of total net wealth in housing equity, suggestive of high demand potential for reverse mortgage products. Nevertheless, actual …


Historic Downtown Streetscape Plan Price City, Utah, Patricia Beckert May 2023

Historic Downtown Streetscape Plan Price City, Utah, Patricia Beckert

All Graduate Plan B and other Reports, Spring 1920 to Spring 2023

The idea of a small-town Main Street has profound meaning within the American culture that has prevailed for the past two centuries. Historically, Main Street serves as the beating heart of a community, a place where economic, social, cultural, and civic activities are centered (Francaviglia, 1996; Main Street America, n.d.). Since the beginning of the 19th century, many factors have led to the decline of Main Streets, and despite a variety of efforts from different stakeholders, that decline has only intensified in recent decades (Isenberg, 2008; Orvell, 2014 Howard, 2015). In 1980, after a three-year project conducted by the National …


An Analysis Of The Housing Affordability Crisis: Private Equity Or Legislation Issue, Jack Polk May 2023

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 …


'99-To-1’ Property Deals: Stamp Duty Avoidance Or Honest Mistake, Vincent Ooi Apr 2023

'99-To-1’ Property Deals: Stamp Duty Avoidance Or Honest Mistake, Vincent Ooi

Research Collection Yong Pung How School Of Law

This article explains in detail the legal issues surrounding the recent ABSD audit and how exactly the general anti-avoidance rule and the stamp duty avoidance surcharge in the Stamp Duties Act 1929 can be invoked by the IRAS.The article highlights the fact that it may not be enough for a property buyer to show that the '99-to-1' holding was intended to enable the buyer to qualify for a home loan and not 'for stamp duty avoidance'. The property buyer must be able to answer the additional question of why the transfer of the property is 'staggered' in two stages and …


Nebraska Farmland Values And Cash Rental Rates In 2023, Jim Jansen, Jeffrey Stokes Mar 2023

Nebraska Farmland Values And Cash Rental Rates In 2023, Jim Jansen, Jeffrey Stokes

Cornhusker Economics

The market value of agricultural land in Nebraska increased by 14% over the prior year to an average of US $3,835 per acre, according to the 2023 Nebraska Farm Real Estate Market Survey. This marks the second-largest increase in the market value of agricultural land in Nebraska since 2014 and the highest non-inflation-adjusted state-wide land value in the 45-year history of the survey.

The University of Nebraska-Lincoln’s Department of Agricultural Economics annually surveys land industry professionals across Nebraska, including appraisers, farm and ranch managers, agricultural bankers, and related industry professionals. Results from the survey are divided by land class and …


Governmental Restrictions And Real Estate Investor Risk Perception, Carina Kaiser, Julia Freybote, Wolfgang Schäfers Mar 2023

Governmental Restrictions And Real Estate Investor Risk Perception, Carina Kaiser, Julia Freybote, Wolfgang Schäfers

Business Faculty Publications and Presentations

We investigate the impact of governmental restrictions on the short-term risk perception, as proxied by the going-in cap rate, of investors in regional and neighborhood shopping centers. We use the COVID-19 pandemic as a natural experiment and proxy for the length and severity of COVID-19 restrictions with the political affiliation of state governors. Using a sample of 40 metropolitan statistical areas (MSAs) across 27 states over the period of 2018 to 2021, we find that for states with Republican governors, which proxy for shorter and fewer COVID-19 restrictions, investors in regional malls required a lower going-in cap rate in the …


Real Estate Assets: To Build Or Not To Build?, Chaik Ming Koh Mar 2023

Real Estate Assets: To Build Or Not To Build?, Chaik Ming Koh

Asian Management Insights

It’s about when, not whether.