The Measurement Of House Prices

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Measuring and Explaining House Price Developments

Author : Paul de Vries
Publisher : IOS Press
ISBN 13 : 1607506653
Total Pages : 227 pages
Book Rating : 4.6/5 (75 download)

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Book Synopsis Measuring and Explaining House Price Developments by : Paul de Vries

Download or read book Measuring and Explaining House Price Developments written by Paul de Vries and published by IOS Press. This book was released on 2010 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study discusses ways of measuring and explaining the development of house prices. The goal of the research underpinning this dissertation was to develop a methodological framework for studying these developments. This framework relates, first, to correcting for changes in the composition of dwellings and, second, to the fundamentals of the price development. Using the weighted repeat sales method and sale price appraisal ratio (SPAR) method, house price indexes were developed for the Netherlands. Both the Dutch land registry office and Statistics Netherlands publish the SPAR based house price index monthly. To explain and predict changes in prices, a house price model is presented. As suggested in literature on western housing markets, the Dutch house price developments can be explained by demand-oriented short-run term variables and a long-run term variable.

House Prices and the Macroeconomy

Author : Charles Goodhart
Publisher : Oxford University Press
ISBN 13 : 0199204594
Total Pages : 247 pages
Book Rating : 4.1/5 (992 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 Oxford University Press. This book was released on 2007 with total page 247 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.

The Measurement and Determinants of Single-family House Prices

Author : Joe Peek
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis The Measurement and Determinants of Single-family House Prices by : Joe Peek

Download or read book The Measurement and Determinants of Single-family House Prices written by Joe Peek and published by . This book was released on 1991 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Handbook on Residential Property Price Indices

Author : OECD
Publisher : OECD Publishing
ISBN 13 : 9264197184
Total Pages : 186 pages
Book Rating : 4.2/5 (641 download)

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Book Synopsis Handbook on Residential Property Price Indices by : OECD

Download or read book Handbook on Residential Property Price Indices written by OECD and published by OECD Publishing. This book was released on 2013-04-22 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook provides, for the first time, comprehensive guidelines for the compilation of Residential Property Price Indexes and explains in depth the methods and best practices used to calculate an RPPI.

How to Measure a House

Author : D. Hampton Thomas
Publisher : Hamp Thomas
ISBN 13 : 9781456491987
Total Pages : 148 pages
Book Rating : 4.4/5 (919 download)

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Book Synopsis How to Measure a House by : D. Hampton Thomas

Download or read book How to Measure a House written by D. Hampton Thomas and published by Hamp Thomas. This book was released on 2010-12-02 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: How to measure a house. Based on the ANSI(R) Guideline, everything you need to know to accurately measure residential square footage. Most comprehensive publication on residential square footage available anywhere. In a price-per-square-foot world, the consistent creation of a home's square footage has never been more important. The ultimate How To book for measuring houses based on the ANSI(R) measurement standard.

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.

Foreign Demand and Local House Prices: Evidence from the US

Author : Mr.Damien Puy
Publisher : International Monetary Fund
ISBN 13 : 1513529269
Total Pages : 31 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis Foreign Demand and Local House Prices: Evidence from the US by : Mr.Damien Puy

Download or read book Foreign Demand and Local House Prices: Evidence from the US written by Mr.Damien Puy and published by International Monetary Fund. This book was released on 2020-02-28 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: We test whether foreign demand matters for local house prices in the US using an identification strategy based on the existence of “home bias abroad” in international real estate markets. Following an extreme political crisis event abroad, a proxy for a strong and exogenous shift in foreign demand, we show that house prices rise disproportionately more in neighbourhoods with a high concentration of population originating from the crisis country. This effect is strong, persistent, and robust to the exclusion of major cities. We also show that areas that were already expensive in the late 1990s have experienced the strongest foreign demand shocks and the biggest drop in affordability between 2000 and 2017. Our findings suggest a non-trivial causal effect of foreign demand shocks on local house prices over the last 20 years, especially in neighbourhoods that were already rather unaffordable for the median household.

The Measurement and Analysis of Housing Preference and Choice

Author : Sylvia J.T. Jansen
Publisher : Springer Science & Business Media
ISBN 13 : 9048188946
Total Pages : 272 pages
Book Rating : 4.0/5 (481 download)

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Book Synopsis The Measurement and Analysis of Housing Preference and Choice by : Sylvia J.T. Jansen

Download or read book The Measurement and Analysis of Housing Preference and Choice written by Sylvia J.T. Jansen and published by Springer Science & Business Media. This book was released on 2011-05-12 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the current trends in housing? Is my planned project commercially viable? What should be my marketing and advertisement strategies? These are just some of the questions real estate agents, landlords and developers ask researchers to answer. But to find the answers, researchers are faced with a wide variety of methods that measure housing preferences and choices. To select and value a valid research method, one needs a well-structured overview of the methods that are used in housing preference and housing choice research. This comprehensive introduction to this field offers just such an overview. It discusses and compares numerous methods, detailing the potential limitation of each one, and it reaches beyond methodology, illustrating how thoughtful consideration of methods and techniques in research can help researchers and other professionals to deliver products and services that are more in line with residents’ needs.

How to Better Measure Hedonic Residential Property Price Indexes

Author : Mick Silver
Publisher : International Monetary Fund
ISBN 13 : 1475555296
Total Pages : 89 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis How to Better Measure Hedonic Residential Property Price Indexes by : Mick Silver

Download or read book How to Better Measure Hedonic Residential Property Price Indexes written by Mick Silver and published by International Monetary Fund. This book was released on 2016-11-16 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hedonic regressions are used for property price index measurement to control for changes in the quality-mix of properties transacted. The paper consolidates the hedonic time dummy approach, characteristics approach, and imputation approaches. A practical hedonic methodology is proposed that (i) is weighted at a basic level; (ii) has a new (quasi-) superlative form and thus mitigates substitution bias; (iii) is suitable for sparse data in thin markets; and (iv) only requires the periodic estimation of hedonic regressions for reference periods and is not subject to the vagrancies of misspecification and estimation issues.

Why House Price Indexes Differ

Author : Mick Silver
Publisher : International Monetary Fund
ISBN 13 : 1475593643
Total Pages : 36 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Why House Price Indexes Differ by : Mick Silver

Download or read book Why House Price Indexes Differ written by Mick Silver and published by International Monetary Fund. This book was released on 2012-05-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: A key element in the build-up to the global recession and subsequently was the movement in house price indexes (HPIs). These indexes are particularly prone to methodological and coverage differences which can undermine both within-country and cross-country economic analysis. The paper outlines key measurement issues and reports on empirical work using an international panel data set that (i) considers whether differences in HPI measurement matter and, if so, in what way, and (ii) revisits the measurement of global house price inflation and the modeling of the determinants of house price inflation using HPIs corrected for differences in measurement practice.

IMF Research Bulletin, December 2012

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1475540868
Total Pages : 14 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis IMF Research Bulletin, December 2012 by : International Monetary Fund. Research Dept.

Download or read book IMF Research Bulletin, December 2012 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2012-12-14 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Research Summaries in the December 2012 IMF Research Bulletin look at "Market Failures and Macroprudential Policy" (Giovanni Favara and Lev Ratnovski) and "Measurement Matters for House Price Indices" (Mick Silver). The Q&A column looks at "Seven Questions on Turning Points of the Global Business Cycle." The Bulletin also includes a listing of recent IMF Working Papers and Staff Discussion Notes, as well as a list of the top-viewed articles for the first three issues of IMF Economic Review in 2012. Information is also included on a call for papers for the conference "Asia: Challenges of Stability and Growth" to be held in Seoul in 2013.

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

House Price Indices

Author : Thomas G. Thibodeau
Publisher : Springer Science & Business Media
ISBN 13 : 9780792398837
Total Pages : 266 pages
Book Rating : 4.3/5 (988 download)

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Book Synopsis House Price Indices by : Thomas G. Thibodeau

Download or read book House Price Indices written by Thomas G. Thibodeau and published by Springer Science & Business Media. This book was released on 1997-03-31 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains a special issue of the Journal of Real Estate Finance and Economics, comprising thirteen articles on house price measurement. These articles address the various procedures used to compute cross-sectional or temporal house price indices. Specifically, these articles contain research that: (1) evaluates hedonic, repeat sales, or hybrid approaches to constructing house price indices; (2) evaluates alternative sources of data on house prices and corresponding housing characteristics; (3) identifies the most influential land, structural, neighborhood, and proximity determinants of house prices (and associated changes in house prices); (4) provides a methodology for identifying housing market segments; (5) incorporates spatial autocorrelation in house price indices; and (6) provides more accurate estimates of the variance in house prices.

Price Index Concepts and Measurement

Author : W. Erwin Diewert
Publisher : University of Chicago Press
ISBN 13 : 0226148572
Total Pages : 531 pages
Book Rating : 4.2/5 (261 download)

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Book Synopsis Price Index Concepts and Measurement by : W. Erwin Diewert

Download or read book Price Index Concepts and Measurement written by W. Erwin Diewert and published by University of Chicago Press. This book was released on 2010-02-15 with total page 531 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although inflation is much feared for its negative effects on the economy, how to measure it is a matter of considerable debate that has important implications for interest rates, monetary supply, and investment and spending decisions. Underlying many of these issues is the concept of the Cost-of-Living Index (COLI) and its controversial role as the methodological foundation for the Consumer Price Index (CPI). Price Index Concepts and Measurements brings together leading experts to address the many questions involved in conceptualizing and measuring inflation. They evaluate the accuracy of COLI, a Cost-of-Goods Index, and a variety of other methodological frameworks as the bases for consumer price construction.

Assessing House Prices with Prudential and Valuation Measures

Author : Michal Andrle
Publisher : International Monetary Fund
ISBN 13 : 1498304400
Total Pages : 42 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Assessing House Prices with Prudential and Valuation Measures by : Michal Andrle

Download or read book Assessing House Prices with Prudential and Valuation Measures written by Michal Andrle and published by International Monetary Fund. This book was released on 2019-03-18 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we provide tools for assessing the house prices and housing valuation. We develop two approaches: (i) borrowing capacity approach, and (ii) intrinsic value approach. The borrowing capacity of households, together with their down payment, implies how much housing they can attain. In the intrinsic value approach, property value is viewed as a discounted present value of adjusted net rental income. Our approach does not involve a complex econometric model and only widely available data are used. The proposed indicators can guide households, financial markets and macroprudential authorities in their understanding of house prices development. To illustrate the concepts, we analyze the housing prices in the Czech Republic and assess the degree of market over-and undervaluation.

Three essays on real estate finance

Author : Xiaolong Liu
Publisher : Rozenberg Publishers
ISBN 13 : 9036101999
Total Pages : 132 pages
Book Rating : 4.0/5 (361 download)

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Book Synopsis Three essays on real estate finance by : Xiaolong Liu

Download or read book Three essays on real estate finance written by Xiaolong Liu and published by Rozenberg Publishers. This book was released on 2010 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt:

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.