Real Estate Commons^™

Is Commercial Real Estate Overpriced?, Stijn Van Nieuwerburgh

Perspectives@SMU

Valuations are sky-high but realised cashflow growth is sluggish. Much of the dichotomy could be attributed to the increased diversity of the commercial real estate ecosystem

Cielo Obispo Development Package, Jack Wanner

City and Regional Planning

The Cielo Obispo is a 0.38 acre lot located on the corner of the Old Town Historic District and Downtown San Luis Obispo neighborhoods. The Cielo Obispo Development Package is a guiding document to future development on this site. This analysis contains information regarding the complex regulatory, financial, economic, and physical constraints and opportunities when developing in California and San Luis Obispo. The development package explains the process and a breakdown of the requirements that would be needed to get a project of this size entitled and shovel ready. This information is particularly important for planning professionals within the City …

Strategic Default And Moral Hazard In Real Estate: Insights From Machine Learning Applications, Arka Prava Bandyopadhyay

Dissertations, Theses, and Capstone Projects

Strategic default has been the achilles heel in academic finance for decades. By definition, whether a default has occurred due to strategic motive is unobservable. Moreover, a household has only so many avenues of conducting a strategic default. I use the context of commercial mortgages as property value as well property cashflow co-determine the default decision of these borrowers. I tease out the different strategic aspects of default from the ones emanating from liquidity constraints. The recent advances in Deep Neural Network (DNN), the advent of big data and the computational power associated with it has enabled me to disentangle …

"Airbnb Go Home:" Tourism Frictions And Short-Term Rentals In New Orleans, Madeline R. Fussell

LSU Master's Theses

This thesis examines the concerns and conflicts around short-term rental (STR) properties in New Orleans neighborhoods. Using data from collected from critical discourse analysis, semi-structured interviews and social media posts, this paper analyzes the ways the city of New Orleans, residents of the city, STR hosts, and platforms like Airbnb discuss issues of safety, displacement, rising costs of living, as well as responsible STR practices. To understand the complexities of the issues people, have with short-term rental properties, this project approaches STRs from a housing and gentrification lens to understand the role these properties play within in the daily atmospheres …

America's Best Small Cities In The Mountain West, Katie M. Gilbertson, Kelliann Beavers, Caitlin J. Saladino, William E. Brown Jr., Fatma Nasoz

Cities & Metros

This fact sheet reports the rankings of small cities in the Mountain West, based on perceived desirability for living, visiting, and investment. Resonance Consultancy’s “America’s Best Small Cities 2020,” report examines six key metrics: “People,” “Place,” “Product,” “Programming,” “Promotion,” and “Prosperity.” 11 small cities in the Mountain West are ranked within the top 100 in the United States.

Adapting To A Health Crisis: A Case Study Of A Real Estate Brokerage Team’S Crisis Communication And Management, Brielle Labonte

Honors Program Theses and Projects

The Covid-19 crisis was a foreign crisis to societies worldwide. Since its introduction in December 2019, businesses had to adapt to major societal changes, as new restrictions were implemented on societal functions worldwide. The real estate industry, in particular, experienced significant changes in the market, as well as their overall practices of business. This study will use qualitative research, specifically a case study approach, to study how the Lori Seavey Realty Team of North Attleboro Massachusetts, mitigated the COVID-19 pandemic through the lens of the Situational Crisis Communication Theory (SCCT). The significance of this thesis in the field of communications …

Predictive Modeling For Real Estate Days On Market, Jeffrey Brann

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

Many forms of property valuation exist but estimation models for duration on market are not as common. This Paper examines a variety of variables as well those that would be found in a hedonistic valuation model and applies them to a predictive model estimating a property’s duration on market. A brief real estate market analysis is also provided regarding Cache County, Utah to give better clarity as to the environment in which this predictive model is performing.

The Impact Of Fresh Eyes: How A Change In The Engagement Team Impacts The Reporting Of Internal Control Material Weaknesses, Hannah Elizabeth Richards

Finance and Real Estate Dissertations - Archive

Regulators have repeatedly debated mandatory auditor rotation. Proponents emphasize the benefits that a new auditor brings, specifically, improved independence and a fresh perspective, leading to higher quality audits. However, opponents argue that changing auditors is costly and impedes audit quality. The United States currently requires audit partner rotation, but it is not clear that partner change alone significantly impacts audit outcomes. In this dissertation, I provide evidence that the fresh perspective brought about by changes in the engagement team improves the detection and reporting of internal control material weaknesses (ICMW) after controlling for the likelihood of the existence of ICMW. …

International Evidence On The Effect Of Economic Policy Uncertainty On Stock Market Liquidity, Fnu Pratima

Finance and Real Estate Dissertations - Archive

In this dissertation, I investigate the impact of economic policy uncertainty on stock market liquidity across a broad cross-section of countries. My dissertation is composed of three distinct yet related essays. My first essay examines the impact of economic policy uncertainty on stock liquidity and various firm-level cross-sectional variables explaining the uncertainty-liquidity relationship. The focus of the second essay, using a sample for non-U.S. stocks cross-listed in the U.S., is to examine the role of cross-listing in moderating the above impact. In the third essay, I examine the market liquidity and country-level factors that explain the relationship between economic policy …

Do Large Gains Make Willing Sellers?, Dong Hong, Roger K. Loh, Mitch Warachka

Business Faculty Articles and Research

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. Our findings provide empirical support for theories of realization utility.

Center For Real Estate Quarterly, Volume 16, Number 6, Portland State University. Center For Real Estate

Center for Real Estate Quarterly

Table of Contents:
-- The Collapse of Suburban Housing Production by Gerard C.S. Mildner
-- Economic Analysis by Jerry Johnson
-- The Rent Control Policies in California and Oregon by Jeff Horwitz
-- Rental Assistance for Tenants and Landlords by Karisa Caracol
-- Inclusionary Housing by Isabella Day
-- Industrial Market Analysis by Chris Reeves
-- Retail Market Analysis by Chris Reeves
-- Housing Production Report by Stacie W. Sanders
-- Office Market Analysis Mark Greathouse

Stratégie Foncière Et Immobilière Au Maroc, Recomposition Territoriale Et Rapport À La Production Du Logement « Abordable » Quelles Perspectives Pour Agadir ?, Mohamed Ben Attou

Dirassat

Recent investment in housing programmes exerted great pressure on land capital so as to accommodate demographic urbanization. The public policies of the strategic planning of urbanization overlook issues of sustainability and land equity. Besides, speculations have tainted most practices associated with the land market and manipulated the mechanisms of demand and supply so that investors and stakeholders make wealth out of housing programs. Morocco managed to increase GDP per capita , however there are still many challenges to live up to namely those of draught and sustainability. The land market claims agricultural land uncontrollably to cater for a inexhaustible urbanization …

La Hausse De L’Immobilier, Le Déclin Du Pouvoir D’Achat Du Citoyen Tunisien: Quelles Issues ?, Fadhila Aloui Miadi

Dirassat

Title : The rise in real estate, the decline in the purchasing power of the Tunisian citizen: what issues?

Since independence, Tunisia has given pride of place to the housing sector in its economic and social development policies. In this context, various institutions have been set up to help citizens to have decent housing; in this regard, we mention the national real estate company of Tunisia (SNIT), the national housing savings fund (CNEL), which became the housing bank in 1989, the land agency housing... In reality, these institutions offered services only to solvent categories composed mainly of the middle class, …

The Housing Market And The Covid-19 Pandemic: Implications For Las Vegas, Phoenix, Riverside, Los Angeles, Orlando, And New Orleans, Jenny Schuetz, Sarah Crump

Policy Briefs and Reports

The COVID-19 pandemic has disrupted virtually every part of the U.S. economy in the past year, and wreaked havoc on people’s daily lives. Housing markets are no exception. Millions of renters have fallen behind on their rent, fearing eviction while accumulating debts they cannot pay. At the same time, prices for owner-occupied housing have soared while the inventory of for-sale homes has plummeted. In this brief, we analyze several measures of housing distress from 2007 to 2019 for six metro areas, chosen based on their housing and labor market characteristics. Los Angeles, Riverside, Las Vegas, and Phoenix were among the …

Building City Identities: A Consumer Perspective, Delphine Godefroit-Winkel, Marie Schill, Cristina Longo, Martin Chour

Markets, Globalization & Development Review

This study complements current knowledge on city identity and city attachment through a phenomenological inquiry among 22 Casablanca consumer residents. Five Casablanca identities emerge: City of Escape, Busy Isolating City, Clustering City, Small City, and Dark City. The findings illuminate (1) how consumers build specific types of city identities; (2) demonstrate city identity as the outcome of interplays between various consumption experiences, perceived characteristics of spaces and places, and ambivalent emotions; and (3) update current knowledge on city attachment. This work further provides valuable recommendations to public authorities who are willing to leverage specific identities.

How Green Buildings Effect Both Price And Desire In The Real Estate Housing Market, Bryson Lino

Construction Management

There has been a recent emphasis on green building certification. Unlike other conventional building approaches, green building has emerged as a sustainable way of building in the real estate housing market. As a result of the green building revolution, the real estate developers have been prompted to acknowledge the essence of environmental and social factors on the investment properties’ value. It is through such a paradigm shift that the green building has redefined the real estate business. Given that climate change has emerged as a major global issue, interventions have been made to avert the emission of high levels of …

Hong Kong Property Prices: Is There A 2047 Discount?, Singapore Management University

Perspectives@SMU

Research looks at whether property prices in Hong Kong have been affected by the coming end of ‘one country, two systems’ governance arrangement in 2047

Social, Economic And Political Dimension Of Real Estate Development Fin 224g, Andree Rathemacher

Library Impact Statements

No abstract provided.

Analysis Of The Commercial Real Estate Market In A Post Covid-19 World, Brandon Croom, Sean Kennedy, Sandesh Ojha, Justin Sparks

SMU Data Science Review

The volatility in the commercial real estate market has been greatly influenced by the new societal practices brought about by the COVID-19 pandemic. The COVID-19 pandemic has added additional factors to already complex modeling to value and predict commercial real estate prices. Although multiple methodologies have been applied to commercial real estate valuation, these methods have not yet taken the COVID-19 pandemic factor into account. The main contribution of this article lies in developing an application for commercial real estate valuation which includes the COVID-19 pandemic factor. Thought this article a Hedonic model was developed to compare the impacts of …

Airbnb Release Of Latent Economic Value And Return To Equilibrium, Daniel Joseph Trujillo

Electronic Theses and Dissertations

We empirically consider Airbnb’s effect on a new variable in Short Term Rental (STR) research, second homes, employing a model pre-Airbnb diffusion (2009), and post-Airbnb diffusion (2019). In doing so we test our hypothesis that second home use will be converted to short-term rentals with the advent of Airbnb. We do so through a natural experiment examining housing stock. We create a schema to segregate tourist and non-tourist counties based on economic variables and deploy these in our research framework observing a shock to housing supply. Notably, we observe a structural change in the use of second homes resulting in …

The Future Of Living: Exploring Sustainable Residential Developments Through A Case Study Analysis Of The Sustainable City Dubai, Carys Davidson-Huxley

Honors Program Theses

With population growth continuing on an upwards trend and urban living projected to increase in the coming years, a redesign of typical property development is required to ensure that housing demand not only has a lesser impact on the environment, but also meets the needs of communities. Through a combination of literature review, quantitative and qualitative data analysis, this paper presents a case study of The Sustainable City Dubai (TSC), a key sustainable development within the United Arab Emirates (UAE), taking into account its social, economic and environmental strategies and consequent impacts. Investigation has been conducted into the importance of …

Political Economy Of The Production Of Heritage Space In A Centro Histórico: Attracting Real Estate Capital, Expelling People. The Case Of Cartagena (Colombia), Camilo Rey-Sabogal

Theses and Dissertations--Geography

Cartagena is a South American city whose historical built environment has been recognized as a World Heritage Site due to the preservation of elements of the Spanish military architecture of the 16th, 17th and 18th centuries. This recognition promoted a tourist and real estate boom in the Centro Histórico and, as a result, its inhabitants have faced gentrification dynamics that are expelling them to other areas of the city. During the last 15 years, these dynamics have shown a strong acceleration. Therefore, the Centro Histórico is experiencing, on the one hand, huge inflows of capital for the purchase of properties …

Homelessness In The West: Business Improvement Districts As The Strategic Weaponization Of Class Monopoly Rent, Zachary Roger Arms

EWU Masters Thesis Collection

The objective of this study is to examine business improvement districts (BIDs) as a form of class monopoly rent (CMR) within the broader production and spatial management of the ongoing homeless crisis in Seattle Washington. The city of Seattle Washington is home to a plethora of successful and ever-expanding international corporations. Within and around the city the headquarters of tech giants Microsoft and Amazon can be found. The continued success of these companies has had a dramatic impact on the region, bringing in a multitude of high-wage jobs which in turn has created a volatile, cutthroat real estate market. The …

The Impact Of A Management Company’S Scale On Hotel Market Value, Gil Keinan

Theses and Dissertations

The choice of management structure is growing in importance for hotel owners. Most owners’ investment theses are based on an attractive acquisition basis, focusing on net cash flow and the sales exit. Depending on the market, transaction price may be influenced by asset level performance which is highly influenced by daily revenue and expense decisions. Hotel brands quantify their value via measures that include market share and loyalty of a customer base. While much research has been conducted on the impact of brands on market value, the influence of hotel management on resale value has not been well investigated. This …

Inquiries In Intelligent Information Systems: New Trajectories And Paradigms, Samaa Elnagar

Theses and Dissertations

Rapid Digital transformation drives organizations to continually revitalize their business models so organizations can excel in such aggressive global competition. Intelligent Information Systems (IIS) have enabled organizations to achieve many strategic and market leverages. Despite the increasing intelligence competencies offered by IIS, they are still limited in many cognitive functions. Elevating the cognitive competencies offered by IIS would impact the organizational strategic positions.

With the advent of Deep Learning (DL), IoT, and Edge Computing, IISs has witnessed a leap in their intelligence competencies. DL has been applied to many business areas and many industries such as real estate and manufacturing. …

House Prices And Affordability, R. Greenaway-Mcgrevy, Peter C. B. Phillips

Research Collection School Of Economics

The decade following the global financial crisis (GFC) has witnessed rampant house price appreciation in many cities of the developed world. The metropolitan centres of New Zealand showcase this phenomenon with house price appreciation persistently outpacing income growth. In Auckland, the ratio of prevailing median house prices to median household income rose from 6.4 in 2010 to 10.0 in 2016 (Demographia, Citation2011, Citation2017), before declining to 8.6 by 2019 as house prices flat-lined while household incomes increased (Demographia, Citation2020). However, a strong resurgence in house prices during 2020 means that this ratio has resumed its upward trajectory, with an increase …

Eastbank Forum, Oregon Museum Of Science And Industry (Omsi), Portland, Alexander Wallace, Elliot Ford, Matthew Hurd, Natalie Reeder, Annie Carlton, Mark Greathouse, Talya Naftali

Real Estate Development Workshop Projects

The Eastbank Forum focuses on the development of the Oregon Museum of Science and Industry to create a community destination, a center for sustainability, and a revenue generator.