Nonstandard House Price Theory

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Nonstandard House Price Theory

Author : Marko Hannonen
Publisher : Suomen E-painos Oy
ISBN 13 : 952661366X
Total Pages : 57 pages
Book Rating : 4.5/5 (266 download)

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Book Synopsis Nonstandard House Price Theory by : Marko Hannonen

Download or read book Nonstandard House Price Theory written by Marko Hannonen and published by Suomen E-painos Oy. This book was released on with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an e-book about a dynamic field theory of house prices, which simplifies the ideas in the author’s previous work, A Field Theory of House Prices (ISBN 978-952-6613-36-9). The text provides new, highly workable ideas based on the major ideas of classical physics combined with the major ideas of classical economics. This synthesis is known as a dynamic field theory of house prices. This is a novel theory that provides a unified, general framework for decision-making that can be applied to any macro-level question about house prices. In order to understand the ideas of this e-book, it is assumed that the reader has a basic understanding of mathematics, which is the language of exact science. The workability of the ideas presented in this e-book are demonstrated using some real, large data sets. These empirical results are documented in the presented material. The local disposable income and the interest variable typically applied in Finland are the ”pushing forces” that generate the demand field. The supply side is the ”attracting force” that does not influence the house prices in the samples investigated, but is still a force that exists. What is a house price? What are the demand field and supply field of housing? This book explains these issues.

House Price Methodology

Author : Marko Hannonen
Publisher : Suomen E-painos Oy
ISBN 13 : 9526613767
Total Pages : 51 pages
Book Rating : 4.5/5 (266 download)

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Book Synopsis House Price Methodology by : Marko Hannonen

Download or read book House Price Methodology written by Marko Hannonen and published by Suomen E-painos Oy. This book was released on with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: This booklet discusses some major methodological issues relating to the construction of house price models on a macro level. There is no single method that always produces the optimal results; the choice of a particular approach, method, theory, model and technique is context-dependent. This is especially true in housing markets, where a multitude of different submarkets exist. The methodology chosen should be based on sound theory, from which the basic concepts of analysis can be derived. This booklet discusses the use of potential models, which can be constructed using a general field theory, and which act as a theoretical foundation for further analysis. If we use potential models for house price analysis we can discover additional features from the data set that other approaches would simply miss. This e-book presents a pragmatic overview of key methodological concerns with the emphasis on the use of potential models. Theoretical methodological questions are left unanswered, and are not even presented in this text, since they have little relevancy to real-world modelling questions.

Modelling House Prices

Author : Marko Hannonen
Publisher : Suomen E-painos Oy
ISBN 13 : 9526613678
Total Pages : 50 pages
Book Rating : 4.5/5 (266 download)

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Book Synopsis Modelling House Prices by : Marko Hannonen

Download or read book Modelling House Prices written by Marko Hannonen and published by Suomen E-painos Oy. This book was released on with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This booklet is a final complement to the series of investigations (”A Field Theory of House Prices”, ISBN 978-952-6613-36-9 and ”Nonstandard House Price Theory”, ISBN 978-952-6613-66-6) on the fundamental nature of house prices, which is, strictly speaking, a mathematical question. As in the earlier e-books on the scientific essence of house prices by the author, this booklet analyses house prices using the concept of a vector field. The fundamental idea underlying this e-book is that housing demand, housing supply and house prices can be investigated not as scalar functions but as genuine vector fields.

A Field Theory of House Prices

Author : Marko Hannonen
Publisher : Suomen E-painos Oy
ISBN 13 : 9526613368
Total Pages : 74 pages
Book Rating : 4.5/5 (266 download)

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Book Synopsis A Field Theory of House Prices by : Marko Hannonen

Download or read book A Field Theory of House Prices written by Marko Hannonen and published by Suomen E-painos Oy. This book was released on with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents the essential ideas of the field theory of house prices. This theory combines some fundamental concepts of classical physics and standard economics, providing a new, alternative way of thinking about house prices. In the field theory of house prices a new concept of analysis is defined: house prices by distance from the CBD (Central Business District). In traditional neoclassical economics, house prices are analysed directly without including the location element of a house. The field theory, however, takes location explicitly into account by analysing house prices divided by the distance from the CBD. The main ideas of the field theory are also applicable to the land markets and facilities markets, where location plays a significant role in the analysis of property prices. The author is a Doctor of Science (Technology), whose research interest focuses on applied mathematics and economics.

House Prices and Ultra-low Interest Rates

Author : Daniel Dieckelmann
Publisher :
ISBN 13 : 9789289959858
Total Pages : 0 pages
Book Rating : 4.9/5 (598 download)

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Book Synopsis House Prices and Ultra-low Interest Rates by : Daniel Dieckelmann

Download or read book House Prices and Ultra-low Interest Rates written by Daniel Dieckelmann and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The acceleration of house price growth amidst falling interest rates to record-low levels across euro area countries between 2015 and 2021 has sparked renewed interest in the link between the two variables. Asset-pricing theory suggests that real house prices respond to changes in real interest rates in a non-linear fashion. This non-linearity should be especially pronounced at very low real interest rates. Most existing empirical studies estimate models with a constant semi-elasticity, thereby ruling out by design the potential non-linearities between house prices and interest rates. To address this issue, we estimate a panel model for the euro area countries with a constant interest rate elasticity (as opposed to a constant semi-elasticity), which is consistent with asset pricing theory. Our empirical results suggest that, in a low interest rate environment such as the period between 2015 and 2021, non-linearities in the house price response to interest rate changes are important: an increase of real interest rates from ultra-low levels could lead to downward pressure on real house prices three to eight times higher than the literature suggests.

The Income Approach to Property Valuation

Author : Andrew Baum
Publisher : Routledge
ISBN 13 : 1317267001
Total Pages : 386 pages
Book Rating : 4.3/5 (172 download)

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Book Synopsis The Income Approach to Property Valuation by : Andrew Baum

Download or read book The Income Approach to Property Valuation written by Andrew Baum and published by Routledge. This book was released on 2017-12-22 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: A classic textbook that has guided generations of students through the intricacies of property valuation, The Income Approach to Property Valuation remains a keen favourite amongst students and teachers alike. This new edition has been thoroughly revised and updated to meet the increasingly international perspectives of modern Real Estate students. The links between theory and practice are clearly demonstrated throughout, with a range of new international case studies and practice-based examples. The Income Approach to Property Valuation teaches readers: how to analyse market rents and sales prices to derive market evidence to support an opinion of market value; the investment method of valuation and how it is applied in practice; how specific legal factors can impact on market value when they interfere with market forces; what the market and the profession may consider to be the 'right' methodology in today's market place; and how to use spreadsheets in valuation. This extensively revised new edition is perfect both for students on Real Estate courses worldwide and for professional candidates working towards their final assessment of professional competence (APC) for the Royal Institution of Chartered Surveyors, needing to demonstrate a valuation competence at levels 2 and 3.

House Prices and the Macroeconomy

Author : Charles Goodhart
Publisher : OUP Oxford
ISBN 13 : 0191514039
Total Pages : 246 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis House Prices and the Macroeconomy by : Charles Goodhart

Download or read book House Prices and the Macroeconomy written by Charles Goodhart and published by OUP Oxford. This book was released on 2006-12-21 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt: House price bubbles, and their aftermath, have become a focus of macro-economic policy concern in most developed countries. This book elucidates the two-way relationship between house-price fluctuations and economic fundamentals. Housing has many features which make it distinct from other assets, like equity. Real estate is not only an asset but also a durable consumption good for households, providing shelter and other housing services. As a result, a house is often the largest and most important asset of households and therefore accounts for a major share of household wealth. Similarly a large share of bank assets is tied to housing values. House price fluctuations may, therefore, have a major effect on economic activity and the soundness of the financial system. Following an introductory chapter, the book is structured into three parts. The first demonstrates the importance of house prices as determinants or indicators of inflation and economic activity. The second focuses on the inter-relationships between bank credit extension and housing prices, and how bubbles can lead to financial crises. The third discusses resultant public policy issues, such as whether, and how, to include housing prices in a general inflation index, and how to restrain the housing/bank credit cycle.

A Research Agenda for Real Estate

Author : Tiwari, Piyush
Publisher : Edward Elgar Publishing
ISBN 13 : 1839103930
Total Pages : 296 pages
Book Rating : 4.8/5 (391 download)

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Book Synopsis A Research Agenda for Real Estate by : Tiwari, Piyush

Download or read book A Research Agenda for Real Estate written by Tiwari, Piyush and published by Edward Elgar Publishing. This book was released on 2022-03-08 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offering fresh insights into the key emerging issues in the field, including the changing socio-economic contexts brought about by the rise of the millennial generation and the creative class, the Covid-19 pandemic, and a greater emphasis on social responsibility, this forward-looking Research Agenda critically debates and rethinks theories and practices in the property sector.

Energy Research Abstracts

Author :
Publisher :
ISBN 13 :
Total Pages : 1344 pages
Book Rating : 4.U/5 (183 download)

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Book Synopsis Energy Research Abstracts by :

Download or read book Energy Research Abstracts written by and published by . This book was released on 1988 with total page 1344 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Arrested Development

Author : Charles G. Nathanson
Publisher :
ISBN 13 :
Total Pages : 67 pages
Book Rating : 4.:/5 (968 download)

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Book Synopsis Arrested Development by : Charles G. Nathanson

Download or read book Arrested Development written by Charles G. Nathanson and published by . This book was released on 2017 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the role of disagreement in amplifying housing cycles. Speculation is easier in the land market than in the housing market due to frictions that make renting less efficient than owner-occupancy. As a result, undeveloped land both facilitates construction and intensifies the speculation that causes booms and busts in house prices. This observation reverses the standard intuition that cities where construction is easier experience smaller house price booms. It also explains why the largest house price booms in the United States between 2000 and 2006 occurred in areas with elastic housing supply.

International Encyclopedia of Housing and Home

Author :
Publisher : Elsevier
ISBN 13 : 0080471714
Total Pages : 3870 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis International Encyclopedia of Housing and Home by :

Download or read book International Encyclopedia of Housing and Home written by and published by Elsevier. This book was released on 2012-10-09 with total page 3870 pages. Available in PDF, EPUB and Kindle. Book excerpt: Available online via SciVerse ScienceDirect, or in print for a limited time only, The International Encyclopedia of Housing and Home, Seven Volume Set is the first international reference work for housing scholars and professionals, that uses studies in economics and finance, psychology, social policy, sociology, anthropology, geography, architecture, law, and other disciplines to create an international portrait of housing in all its facets: from meanings of home at the microscale, to impacts on macro-economy. This comprehensive work is edited by distinguished housing expert Susan J. Smith, together with Marja Elsinga, Ong Seow Eng, Lorna Fox O'Mahony and Susan Wachter, and a multi-disciplinary editorial team of 20 world-class scholars in all. Working at the cutting edge of their subject, liaising with an expert editorial advisory board, and engaging with policy-makers and professionals, the editors have worked for almost five years to secure the quality, reach, relevance and coherence of this work. A broad and inclusive table of contents signals (or tesitifes to) detailed investigation of historical and theoretical material as well as in-depth analysis of current issues. This seven-volume set contains over 500 entries, listed alphabetically, but grouped into seven thematic sections including methods and approaches; economics and finance; environments; home and homelessness; institutions; policy; and welfare and well-being. Housing professionals, both academics and practitioners, will find The International Encyclopedia of Housing and Home useful for teaching, discovery, and research needs. International in scope, engaging with trends in every world region The editorial board and contributors are drawn from a wide constituency, collating expertise from academics, policy makers, professionals and practitioners, and from every key center for housing research Every entry stands alone on its merits and is accessed alphabetically, yet each is fully cross-referenced, and attached to one of seven thematic categories whose ‘wholes' far exceed the sum of their parts

Overlapping Generations

Author : Stephen E. Spear
Publisher : Emerald Group Publishing
ISBN 13 : 1837530548
Total Pages : 200 pages
Book Rating : 4.8/5 (375 download)

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Book Synopsis Overlapping Generations by : Stephen E. Spear

Download or read book Overlapping Generations written by Stephen E. Spear and published by Emerald Group Publishing. This book was released on 2023-09-04 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 800 pound gorilla in the room of macroeconomics is the question of why the overlapping generations model didn’t become the central workhorse model for macroeconomics, as opposed to the neoclassical growth model. The authors here explore the co-evolution of the two models.

Unifying Empirical and Theoretical Models of Housing Supply

Author : Christopher J. Mayer
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Unifying Empirical and Theoretical Models of Housing Supply by : Christopher J. Mayer

Download or read book Unifying Empirical and Theoretical Models of Housing Supply written by Christopher J. Mayer and published by . This book was released on 1996 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Identifying Booms and Busts in House Prices Under Heterogeneous Expectations

Author : Wilko Bolt
Publisher :
ISBN 13 : 9789279361555
Total Pages : 38 pages
Book Rating : 4.3/5 (615 download)

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Book Synopsis Identifying Booms and Busts in House Prices Under Heterogeneous Expectations by : Wilko Bolt

Download or read book Identifying Booms and Busts in House Prices Under Heterogeneous Expectations written by Wilko Bolt and published by . This book was released on 2015 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: We introduce heterogeneous expectations in a standard housing market model linking housing rental levels to fundamental buying prices. Using quarterly data we estimate the model parameters for eight different countries, US, UK, NL, JP, CH, ES, SE and BE. We find that the data support heterogeneity in expectations, with temporary endogenous switching between fundamental mean-reverting and trend-following chartists beliefs based on their relative performance. For all countries we identify temporary house price bubbles, amplified by trend extrapolation, and crashes reinforced by fundamentalists. The qualitative predictions of such non-linear models are very different from standard linear benchmarks, with important policy implications. The fundamental price becomes unstable, e.g. when the interest rate is set too low or mortgage tax deductions too high, giving rise to multiple non-fundamental equilibria and/or global instability.

Nonstandard Work

Author : Françoise J. Carré
Publisher : Cornell University Press
ISBN 13 : 9780913447802
Total Pages : 438 pages
Book Rating : 4.4/5 (478 download)

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Book Synopsis Nonstandard Work by : Françoise J. Carré

Download or read book Nonstandard Work written by Françoise J. Carré and published by Cornell University Press. This book was released on 2000 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprises a collection of papers which discuss the decline of the standard employment relationship and the emerging new employment arrangements. Focuses on the 1990s.

Determinants of Spatial Variations in Housing Prices and House Price Changes

Author : Sue-Ching Jou
Publisher :
ISBN 13 :
Total Pages : 388 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Determinants of Spatial Variations in Housing Prices and House Price Changes by : Sue-Ching Jou

Download or read book Determinants of Spatial Variations in Housing Prices and House Price Changes written by Sue-Ching Jou and published by . This book was released on 1991 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Information Processing and Management of Uncertainty in Knowledge-Based Systems

Author : Marie-Jeanne Lesot
Publisher : Springer Nature
ISBN 13 : 3030501469
Total Pages : 779 pages
Book Rating : 4.0/5 (35 download)

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Book Synopsis Information Processing and Management of Uncertainty in Knowledge-Based Systems by : Marie-Jeanne Lesot

Download or read book Information Processing and Management of Uncertainty in Knowledge-Based Systems written by Marie-Jeanne Lesot and published by Springer Nature. This book was released on 2020-06-05 with total page 779 pages. Available in PDF, EPUB and Kindle. Book excerpt: This three volume set (CCIS 1237-1239) constitutes the proceedings of the 18th International Conference on Information Processing and Management of Uncertainty in Knowledge-Based Systems, IPMU 2020, in June 2020. The conference was scheduled to take place in Lisbon, Portugal, at University of Lisbon, but due to COVID-19 pandemic it was held virtually. The 173 papers were carefully reviewed and selected from 213 submissions. The papers are organized in topical sections: homage to Enrique Ruspini; invited talks; foundations and mathematics; decision making, preferences and votes; optimization and uncertainty; games; real world applications; knowledge processing and creation; machine learning I; machine learning II; XAI; image processing; temporal data processing; text analysis and processing; fuzzy interval analysis; theoretical and applied aspects of imprecise probabilities; similarities in artificial intelligence; belief function theory and its applications; aggregation: theory and practice; aggregation: pre-aggregation functions and other generalizations of monotonicity; aggregation: aggregation of different data structures; fuzzy methods in data mining and knowledge discovery; computational intelligence for logistics and transportation problems; fuzzy implication functions; soft methods in statistics and data analysis; image understanding and explainable AI; fuzzy and generalized quantifier theory; mathematical methods towards dealing with uncertainty in applied sciences; statistical image processing and analysis, with applications in neuroimaging; interval uncertainty; discrete models and computational intelligence; current techniques to model, process and describe time series; mathematical fuzzy logic and graded reasoning models; formal concept analysis, rough sets, general operators and related topics; computational intelligence methods in information modelling, representation and processing.