Real Estate Commons^™

Bioscience: How One Industry Won The Pandemic And Will Change Us All, Sonya Swink

Capstones

A video and print capstone about the next great generation of biological sciences as a private industry since 2020. It encompasses the pandemic as the boost the industry needed, discussion of science’s bad reputation and the potential benefits, especially for new workspaces and real estate investors. Colorado is a focus as a burgeoning market. The news value of this story as a primer is how this will be both a beneficial industry and one that must be held to account if it becomes too monopolistic. Comparisons are from the viewpoint that bioscience is like the next Silicon Valley, but statements …

Left In Limbo: Willets Point Businesses Face An Uncertain Future, Jacob Kaye

Capstones

Willets Point, a small neighborhood in Queens, has been eyed for development for over a decade. But in that time, the project has sputtered and stalled, with little to be said in the way of progress but a few acres of demolished land, known as Phase 1, and a plan for an environmental review. But as the city renews its promise to develop the area, business owners say they are being ignored and quietly forced out.

https://jacob-kaye.medium.com/left-in-limbo-willets-point-businesses-face-an-uncertain-future-27a899a7cd6b

House Price Changes In The Mountain West, 1991-2020, Katie M. Gilbertson, Kristian Thymianos, Eshaan Vakil, Caitlin Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet measures the average price change in single-family house prices in Mountain West states and metropolitan areas. This fact sheet utilizes data from the Federal Housing Finance Agency's (FHFA) House Price Index (HPI) tool to show quarterly and yearly trends as far back as 1991 to 2020.

Starting A Residential Real Estate Business, Caelan Shurina

Honors Theses

Hello fellow entrepreneur! It seems you have set your heart on residential real estate. Great! This guide explores the steps you will need to take to turn this interest into a profitable business in real estate investing. By laying out the discoveries I made while creating my own real estate management business in downtown Chattanooga, I’ve created a step by step guide to help you streamline the process from evaluating the market before you buy to selling the property after renovations are complete.

The Relationship Between House Prices And Urbanization In Lebanon: A Granger Causality Approach, Abdallah Nassereddine, Nisreen Mousa, Souha Nicolas

BAU Journal - Creative Sustainable Development

The purpose of this paper is to examine the mutual relationship between urbanization and house prices in Lebanon for the period 1993-2017. The underlying argument of this paper is to examine whether house prices affect and is affected by the rate of urbanization. It argues that a significant rise of rural-urban migration can contribute to the rise in house prices. Similarly, a substantial rise in house prices can eventually limit rural-urban migration and slow down the pace of urbanization. In Lebanon, urbanization has increased at varying rates since 1993 and housing prices might have been affected by urbanization, or could, …

Do User-Generated Ratings Affect Hotel Valuations? – An Analysis Of The Chicago Hotel Market, Shailesh Patel

Dissertations

Today’s travelers are increasingly relying on aggregated online opinions to make purchase decisions. One of the sectors most impacted by these online reviews is the hospitality industry, where consumer review websites such as TripAdvisor, Expedia, and Bookings.com play a critical role in influencing consumer's choice of hotel and the price they will pay for the room. Recently, there have been studies investigating the various aspects of user-generated online reviews and ratings. The purpose of this paper is to investigate the impact of user-generated ratings on hotel valuations. Our paper does this using regression analysis to study the impact of TripAdvisor …

Housing Equity And Household Consumption In Retirement: Evidence From The Singapore Life Panel©, Lipeng Chen, Liang Jiang, Sock Yong Phang, Jun Yu

Research Collection School Of Economics

Housing affordability for elderly homeowners involves an entirely different set of issues as compared to housing affordability for first-time homeowners. To afford to ‘age-in-place’ may require homeowners to access channels that enable them to withdraw their housing equity to finance consumption in retirement. We utilize data from the Singapore Life Panel© survey to empirically investigate the impact of housing equity on the consumption of elderly households. Based on panel analysis, we find housing equity value has no significant impact on non-durable consumption for elderly people. The conclusion holds for a battery of robustness checks. Moreover, heterogeneity analyses based on subsamples …

Affiliation Bias In The Online Market For Rental Accommodation, Barbara A. Bliss, Joseph Engelberg, Mitch Warachka

Business Faculty Articles and Research

We find evidence of taste-based discrimination against rival affiliations in the online market for rental accommodation. Airbnb hosts in college towns increase their listing prices more than hotels on home football games against rival teams. By setting listing prices too high as a result of their affiliation bias against rival fans, hosts experience a 30% reduction in rental income. The overestimation of demand, the cost (inconvenience) of temporary relocation, and the likelihood of incurring damage cannot explain the inverse relation between listing price increases, and rental incomes that is limited to games against rival teams. Instead, greater financial constraints are …

Land Use In Nevada: Counties And The Bureau Of Land Management (Blm), Elia Del Carmen Solano-Patricio, Kelliann Beavers, Caitlin J. Saladino, William E. Brown Jr.

Environment

This Fact Sheet compares land ownership in the State of Nevada, and its 17 counties. Drawn from an original report by Headwaters Economics, the figures and tables that follow provide each jurisdiction’s total land acreage, 2019 population estimates, and a breakdown of land ownership categories, including: private lands, federal lands, state lands, tribal lands, and land owned by cities, counties, or other jurisdictions.

Covid-19: Housing Hardship Index, Yanneli Llamas, Madison Frazee-Bench, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This fact sheet highlights the impact of the COVID-19 pandemic on May 2020 unemployment rates and mortgage delinquencies in the Mountain West: Arizona, Colorado, Nevada, New Mexico, and Utah. This synthesis is based on nationwide data originally reported by Bankrate senior mortgage reporter Jeff Ostrowski in “Housing Hardship Index: Coronavirus crushes some state economies, spares others.”

Capital Controls And Macro-Prudential Housing Policies In Small Open Economies, Taojun Xie, Guay C. Lim, Hwee Kwan Chow

Research Collection School Of Economics

We evaluate the effects of capital controls and macro-prudential policies in small open economies with a housing sector that is open to foreign ownership. The work is motivated by concerns that foreign investments also respond to housing investment opportunities resulting in potential house price inflation and issues about housing affordability. Our dynamic stochastic general equilibrium model features housing as an internationally traded investment. We also consider macro-prudential policies that are combinations of monetary and fiscal instruments. We investigate whether foreign investments in the housing markets are de-stabilising and whether there are appropriate policy responses to mitigate the negative effects of …

Housing Affordability In Nevada Recreation Counties, Yanneli Llamas, Vanessa Booth, Peter Grema, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

Using 2019 data from the Bureau of Economic Analysis and the U.S. Census Bureau’s American Community Survey, this Fact Sheet highlights housing affordability in Nevada’s four recreation counties: Clark, Douglas, Elko, and Washoe. This synthesis is based on a published, national study by Dr. Megan Lawson of Headwaters Economics titled, “Housing in recreation-dependent counties is less affordable.”

Corporate Cash Holdings, Firm Performance, And Ceo Compensation, Dhruba Banjade

Finance and Real Estate Dissertations - Archive

The dissertation consists of three essays. The first essay investigates the relationship between corporate cash holdings and firm performance in new and old economy firms. Results show that firm performance increases when they maintain cash balances at or slightly above a certain level (optimum level). However, their performance degrades if they hold cash at levels beyond the optimum. Furthermore, I find that new economy firms hold more cash relative to their old economy counterparts. Corporate governance and balanced board structure also impact cash holdings and firm performance. I find that as institutional ownership increases, firm performance increases due to better …

Mutual Funds: Governance And Holdings, Jason Morrison

Finance and Real Estate Dissertations - Archive

In this dissertation I examine the role of governance and holdings within the mutual funds industry to determine if active managed fund strategies are affecting fund flows and increasing returns. My first two essays focus on dividend juicing and the results of this strategy and the types of boards of directors that would allow this strategy to be implemented. My third essay focuses on the concentration of holdings and the effect on the overall fund performance. I use hand collected data on the governance characteristics of the board of directors as well as the economic data and holdings of the …

The Effect Of Investor Sentiment On Earnings Management, Lin Chen

Finance and Real Estate Dissertations - Archive

The association between investor sentiment and corporate reporting decisions/outcomes has been recently examined in the accounting and finance literature. As an important outcome of corporate reporting decisions, earnings management (EM) may be affected by investor sentiment. In this dissertation, I examine two research questions. The first is whether investor sentiment is associated with the propensity of firms’ engaging in the two primary forms of EM: accrual earnings management (AEM) and real earnings management (REM). The second question is whether firms’ internal governance strength and external audit quality would moderate the association between investor sentiment and AEM as well as REM. …

Incentives For Information Provision: Energy Efficiency In The Spanish Rental Market, Xueying Bian, Natalia Fabra

Research Collection Lee Kong Chian School Of Business

In this paper we build a search model with asymmetric information regarding houses' energy efficiency. The objective is to shed light on the house owners' incentives to disclose energy certificates (ECs) in the rental market. Such incentives depend not only on the rent premium for more efficient houses - as previously documented - but also on the implicit rent penalty for unlabeled houses. Interestingly, we show that such a penalty is higher the greater the disclosure rate of ECs in the local market. This suggests that the enforcement of the EC regulation should be more stringent during the early phases, …

Covid-19: Metro Recovery Index In The Mountain West, Vanessa Booth, Katie M. Gilbertson, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Economic Development & Workforce

Amid the COVID-19 pandemic and the economic recession that is developing as a result, researchers at the Brookings Institution created the “Metro Recovery Index dashboard,” an interactive data set that tracks changes in labor, real estate, and other economic indicators for metropolitan areas throughout the U.S. Using data from January – June 2020, this Fact Sheets highlights the impact of the COVID-19 recession on 13 Metropolitan Statistical Areas (MSAs) in 5 Mountain West states: Arizona, Colorado, Nevada, New Mexico, and Utah.

A Machine Learning Approach To Delineating Neighborhoods From Geocoded Appraisal Data, Rao Hamza Ali, Josh Graves, Stanley Wu, Jenny Lee, Erik Linstead

Engineering Faculty Articles and Research

Identification of neighborhoods is an important, financially-driven topic in real estate. It is known that the real estate industry uses ZIP (postal) codes and Census tracts as a source of land demarcation to categorize properties with respect to their price. These demarcated boundaries are static and are inflexible to the shift in the real estate market and fail to represent its dynamics, such as in the case of an up-and-coming residential project. Delineated neighborhoods are also used in socioeconomic and demographic analyses where statistics are computed at a neighborhood level. Current practices of delineating neighborhoods have mostly ignored the information …

Center For Real Estate Quarterly, Volume 14, Number 3, Portland State University. Center For Real Estate

Center for Real Estate Quarterly

Table of Contents:
-- Impact of Slope on Housing Development Costs
-- Economic Analysis of Rent Control
-- The Impact of Covid-19 Regulations on Portland’s Small Landlords
-- Responding to Tenant Needs During Covid-19
-- Housing Production in a Covid-19 Economy
-- Economic Analysis
-- Single Family Home
-- Multi-family Residential Report
-- Office Market Analysis
-- Industrial Market Analysis
-- Retail Market Analysis

Biggi Commons, Beaverton, Oregon, Adela Berrio, Dexter Parry, Hannah Radziewicz, Thomas Aquinas, Victoria Kirkland, Xiaofei Ren

Real Estate Development Workshop Projects

Biggi Commons is the next premier real estate development being delivered to the rapidly growing Beaverton, Oregon region, directly in front of the most trafficked transit center in the area.

The project consists of retail, medical office, food trucks and apartments, and hosts activities such as a farmer’s market and cooking classes. Biggi Commons caters to the suburban resident who prioritizes urban amenities, health, accessibility, and attractive design.

Local demand for apartments is strong, therefore the development team envisioned this 168,526 square foot apartment building, with light retail along the first floor. The unit mix varies from studios to three-bedroom, …

Micro-Housing In Seattle Update: Combating “Seattle-Ization”, Taylor Haines

Seattle University Law Review Online

No abstract provided.

The Bridges At Beaverton Creek, Beaverton, Oregon, Alex Bullington, Angela Parada, Channa Kim, Wyatt Redfern, Monique Lum, Brandi Small

Real Estate Development Workshop Projects

Bridges at Beaverton Creek (BBC) is a six story, mixed-use development that seeks to meet the needs of varying demographics in the Beaverton community. At a cumulative 284,277 square feet BBC creates a strong sense of place in an otherwise banal part of Beaverton. The project takes to heart the idea that people want a place to call home, where they can live their best life at any age. As such, the key inspiration behind the concept of BBC is intergenerational living.

At BBC you'll find 191 market-rate apartments alongside a wing of 34 age-restricted apartments with integrated and restricted …

The Trailhead, Tigard, Oregon, Freddie Bulzan, Melvin Sharp, Aurora Charouhas, Alex Lovre, Zoe Johnson, Tyler Reeves

Real Estate Development Workshop Projects

The Trailhead Team (“Sponsor”) is pleased to present qualified individuals (or entities) the opportunity to invest $8,124,231 (“Equity”) in a Qualfied Opportunity Fund, which will purchase membership interests in Urban Flight LLC (“UFL”), a Qualfied Opportunity Zone Business, for the development of two speculative mixed-use buildings located in the industrial core of Tigard, Oregon (“The Trailhead” or “Project”).

Total Project costs will be $35,731,297 with the remainder of the Equity being contributed by the current property owner (“Property Owner”) in the amount of $3,381,723.1 The Sponsor will also invest $1,000,000 of Equity. UFL will secure $23,225,343 in construction debt, at …

Toxic Structures: Speculation And Lead Exposure In Detroit's Single-Family Rental Market, Alexa Eisenberg, Eric Seymour, Alex B. Hill, Joshua Akers

Urban Studies and Planning Faculty Research Publications

Foreclosure sales permitted investors to purchase large volumes of low-cost residential properties after the last financial crisis, reshaping patterns of property ownership in low-income housing markets across the US. This study links post-foreclosure property acquisitions by investor-landlords to subsequent lead poisoning cases among children under age six living in Detroit, Michigan. We find that the odds of exhibiting elevated blood lead levels (≥ 5 μg/dL) are higher for children living in investor-owned homes purchased through tax foreclosure sale. These findings highlight the potential for property speculation in post-foreclosure housing markets to exacerbate severe and racialized burdens of excess lead toxicity …

Neighborhood Change In Las Vegas, Elia Del Carmen Solano-Patricio, Caitlin J. Saladino, William E. Brown Jr.

Housing & Real Estate

This Fact Sheet analyzes indicators of demographic and economic change in Las Vegas neighborhoods and suburbs, provided by “American Neighborhood Change in the 21st Century,” a study published by the Institute on Metropolitan Opportunity (IMO) at the Minnesota Law School. Researchers reviewed data from the 2000 U.S. Census and the 2016 American Community Survey (ACS) for the top 50 largest metros in the U.S. The study reports levels of neighborhood change, including economic growth, poverty concentration, gentrification, and low-income displacement. Data pertaining to the Las Vegas metropolitan region are synthesized to measure indicators of economic viability and housing availability.

Two Essays On The Microstructure Of The Housing Market: Agents' Diffused Effort And Sellers' Behavior Bias, Zhaohui Li

Theses and Dissertations in Business Administration

For the first essay, we generalize the classic Williams [1998 RFS] brokerage model by introducing the diffused effort. That is, the agent can cross-utilize effort spending on one listing to another one. Besides, the agent can manage heterogeneous housing assets. One counterintuitive finding in Williams’ paper is the absence of the agency problem. As a special case in our model, we recover the agency problem. We examine the positive externality due to the diffused effort and show that it depends on the agent’s inventory size. Hence there exists a trade-off between agents’ effort spending on existing listings and on finding …

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

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 …

Rational Expectations Or Behaviorally Inefficient Markets, Arati Devendra Kale

Finance and Real Estate Dissertations - Archive

In this dissertation, I examine the rational investment hypothesis, postulated by classical theories, in mutual fund and portfolio management settings. My first two essays focus on mutual fund investors. I study whether mutual fund investors display racial or ethnic prejudices, which can be observed by mutual fund flows. I hand-collect data on characteristics of mutual fund managers in addition to their names and photographs. I use machine learning algorithms from computer science literature to calculate the probabilistic race from photographs and the probabilistic ethnicity from names. In my third essay, I construct a portfolio comprising of the small growth firms …

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 …