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Author : Thomas R. Harris
Publisher :
ISBN 13 :
Total Pages : 4 pages
Book Rating : 4.:/5 (63 download)
Download or read book Estimating Supply and Demand in Your Local Housing Market written by Thomas R. Harris and published by . This book was released on 2010 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Suzette Dragoo Barta
Publisher :
ISBN 13 :
Total Pages : 4 pages
Book Rating : 4.:/5 (641 download)
Download or read book Constructing a Community Housing Profile written by Suzette Dragoo Barta and published by . This book was released on 2007 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Federal Housing Federal Housing Finance Agency
Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781523423477
Total Pages : 26 pages
Book Rating : 4.4/5 (234 download)
Download or read book How Low Can House Prices Go written by Federal Housing Federal Housing Finance Agency and published by Createspace Independent Publishing Platform. This book was released on 2016-01-16 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a theoretically-based statistical technique to identify a conservative lower bound for house prices. Leveraging a model based upon consumer and investor incentives, we are able to explain the depth of housing market downturns at both the national and state level over a variety of market environments. This approach performs well in several historical back tests and has strong out-of-sample predictive ability. When back-tested, our estimation approach does not understate house price declines in any state over the 1987 to 2001 housing cycle and only understates declines in three states during the most recent financial crisis. This latter result is particularly noteworthy given that the post-2001 estimates are performed out of- sample. Our measure of a conservative lower bound is attractive because it (1) provides a leading indicator of the severity of future downturns and (2) allows trough estimates to dynamically adjust as markets conditions change. This estimation technique could prove particularly helpful in measuring the credit risk associated with portfolios of mortgage assets as part of evaluating static stress tests or designing dynamic stress tests.
Author : Federal Housing Finance Agency
Publisher : CreateSpace
ISBN 13 : 9781514206102
Total Pages : 26 pages
Book Rating : 4.2/5 (61 download)
Download or read book How Low Can House Prices Go written by Federal Housing Finance Agency and published by CreateSpace. This book was released on 2015-06-04 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: We develop a theoretically-based statistical technique to identify a conservative lower bound for house prices. Leveraging a model based upon consumer and investor incentives, we are able to explain the depth of housing market downturns at both the national and state level over a variety of market environments. This approach performs well in several historical back tests and has strong out-of-sample predictive ability. When back-tested, our estimation approach does not understate house price declines in any state over the 1987 to 2001 housing cycle and only understates declines in three states during the most recent financial crisis. This latter result is particularly noteworthy given that the post-2001 estimates are performed outof- sample. Our measure of a conservative lower bound is attractive because it (1) provides a leading indicator of the severity of future downturns and (2) allows trough estimates to dynamically adjust as markets conditions change. This estimation technique could prove particularly helpful in measuring the credit risk associated with portfolios of mortgage assets as part of evaluating static stress tests or designing dynamic stress tests.
Author : Carl J. Liebersohn
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (15 download)
Download or read book Housing Demand, Regional House Prices and Consumption written by Carl J. Liebersohn and published by . This book was released on 2018 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a new explanation for regional variation in the 2000-2012 housing and consumption boom and bust. Cities with a greater share of growing industries experienced larger housing demand shocks, larger house price increases from 2001-2006 and greater price declines from 2006-2011. Consistent with theory, price effects were stronger in housing-supply inelastic cities. City-level differences in housing demand are also correlated with supply elasticity. Controlling for industry, I estimate a durables consumption-house price elasticity of 0.08 from 2001-2006, 60% smaller than estimates without the controls. Post- 2006, the estimated elasticity is 0.19 and housing prices rather than local conditions explain consumption changes.
Author : Rob Nijskens
Publisher : Springer
ISBN 13 : 3030116743
Total Pages : 220 pages
Book Rating : 4.0/5 (31 download)
Download or read book Hot Property written by Rob Nijskens and published by Springer. This book was released on 2019-06-14 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book discusses booming housing markets in cities around the globe, and the resulting challenges for policymakers and central banks. Cities are booming everywhere, leading to a growing demand for urban housing. In many cities this demand is out-pacing supply, which causes house prices to soar and increases the pressure on rental markets. These developments are posing major challenges for policymakers, central banks and other authorities responsible for ensuring financial stability, and economic well-being in general.This volume collects views from high-level policymakers and researchers, providing essential insights into these challenges, their impact on society, the economy and financial stability, and possible policy responses. The respective chapters address issues such as the popularity of cities, the question of a credit-fueled housing bubble, the role of housing supply frictions and potential policy solutions. Given its scope, the book offers a revealing read and valuable guide for everyone involved in practical policymaking for housing markets, mortgage credit and financial stability.
Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (129 download)
Download or read book A Dynamic Model of Housing Demand written by and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Using data from the Panel Study of Income Dynamics (PSID) we specify, estimate and simulate a dynamic structural model of housing demand. Our model generalizes previous applied econometric work by incorporating realistic features of the housing market including non-convex adjustment costs from buying and selling a home, credit constraints from minimum downpayment requirements and uncertainty about the evolution of incomes and home prices. We argue that these features are critical for capturing salient features of housing demand observed in the PSID. After estimating the model we use it to simulate how consumer behavior responds to house price and income declines as well as tightening credit. These experiments are motivated by the U.S. recession starting in December of 2007 that saw large falls in home prices, large negative income shocks for many households and tightening credit standards. In the short run, relatively few households adjust their housing stock. Households respond instead by reducing non-housing consumption and reducing wealth because they wish to avoid losing their home and the associated adjustment costs. Households that adjust in the short run are those hit with a series of bad shocks, such as a negative income shock and a home price decline. A larger proportion of households do adjust their consumption in the long run, increasing their housing stock since housing is less expensive. However, such changes may occur several years after the shocks listed above
Author : Rena Mourouzi-Sivitanidou
Publisher : Taylor & Francis
ISBN 13 : 1000063143
Total Pages : 467 pages
Book Rating : 4.0/5 ( download)
Download or read book Market Analysis for Real Estate written by Rena Mourouzi-Sivitanidou and published by Taylor & Francis. This book was released on 2020-08-06 with total page 467 pages. Available in PDF, EPUB and Kindle. Book excerpt: Market Analysis for Real Estate is a comprehensive introduction to how real estate markets work and the analytical tools and techniques that can be used to identify and interpret market signals. The markets for space and varied property assets, including residential, office, retail, and industrial, are presented, analyzed, and integrated into a complete understanding of the role of real estate markets within the workings of contemporary urban economies. Unlike other books on market analysis, the economic and financial theory in this book is rigorous and well integrated with the specifics of the real estate market. Furthermore, it is thoroughly explained as it assumes no previous coursework in economics or finance on the part of the reader. The theoretical discussion is backed up with numerous real estate case study examples and problems, which are presented throughout the text to assist both student and teacher. Including discussion questions, exercises, several web links, and online slides, this textbook is suitable for use on a variety of degree programs in real estate, finance, business, planning, and economics at undergraduate and MSc/MBA level. It is also a useful primer for professionals in these disciplines.
Author : Marko Hannonen
Publisher : Suomen E-painos Oy
ISBN 13 : 9526613767
Total Pages : 51 pages
Book Rating : 4.5/5 (266 download)
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.
Author : Jeffrey E. Zabel
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)
Download or read book A Dynamic Model of the Housing Market written by Jeffrey E. Zabel and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: While the hedonic property value model and recently developed computable general equilibrium urban models assume the housing market is in equilibrium, recent years have witnessed extreme circumstances such as large changes in housing prices, high levels of mortgage default, and high levels of foreclosure that bring into question this assumption. This highlights the need for a better understanding of the dynamics of the housing market and the mechanisms that drive and sustain periods of disequilibrium. In this analysis, I develop and estimate a dynamic model of the housing market where vacancies naturally arise as the error correction mechanism.I estimate this model using annual U.S. panel data at the MSA level for 1990-2011. The results show that when there is excess demand, prices rise when vacancies fall but prices do not fall when there is excess supply and vacancies rise. This is consistent with the belief that prices are sticky downwards and hence prolong housing downturns. On the other hand, when there is excess supply, there is a relatively stronger decline in new housing in response to a rise in vacancies and much less of a new housing reaction when there is excess demand and vacancies fall. Furthermore, when I allow for a structural shift in the housing market brought on by the Great Recession (2006-2011), I find that the housing market became more responsive on both sides - excess supply and demand - during this period.
Author : Columbia University. Institute for Urban Land Use and Housing Studies
Publisher :
ISBN 13 :
Total Pages : 104 pages
Book Rating : 4.3/5 (91 download)
Download or read book Housing Market Analysis written by Columbia University. Institute for Urban Land Use and Housing Studies and published by . This book was released on 1953 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Andrew D. Paciorek
Publisher :
ISBN 13 :
Total Pages : 63 pages
Book Rating : 4.:/5 (839 download)
Download or read book Supply Constraints and Housing Market Dynamics written by Andrew D. Paciorek and published by . This book was released on 2011 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Edward L. Glaeser
Publisher : University of Chicago Press
ISBN 13 : 9780226030586
Total Pages : 0 pages
Book Rating : 4.0/5 (35 download)
Download or read book Housing and the Financial Crisis written by Edward L. Glaeser and published by University of Chicago Press. This book was released on 2013-08-19 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional wisdom held that housing prices couldn’t fall. But the spectacular boom and bust of the housing market during the first decade of the twenty-first century and millions of foreclosed homeowners have made it clear that housing is no different from any other asset in its ability to climb and crash. Housing and the Financial Crisis looks at what happened to prices and construction both during and after the housing boom in different parts of the American housing market, accounting for why certain areas experienced less volatility than others. It then examines the causes of the boom and bust, including the availability of credit, the perceived risk reduction due to the securitization of mortgages, and the increase in lending from foreign sources. Finally, it examines a range of policies that might address some of the sources of recent instability.
Author : Thomas Sowell
Publisher : Basic Books (AZ)
ISBN 13 : 0465018807
Total Pages : 194 pages
Book Rating : 4.4/5 (65 download)
Download or read book The Housing Boom and Bust written by Thomas Sowell and published by Basic Books (AZ). This book was released on 2009-05-12 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explains how we got into the current economic disaster that developed out of the economics and politics of the housing boom and bust. The "creative" financing of home mortgages and "creative" marketing of financial securities based on these mortgages to countries around the world, are part of the story of how a financial house of cards was built up--and then collapsed.
Author : Michael Thomsett
Publisher : AMACOM
ISBN 13 : 0814438903
Total Pages : 301 pages
Book Rating : 4.8/5 (144 download)
Download or read book The Real Estate Investor's Pocket Calculator written by Michael Thomsett and published by AMACOM. This book was released on 2017-10-18 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: The return on real estate investments hinges less on the physical property and more on the math. This invaluable resource helps you analyze the financial picture before shoveling out the money. With real estate investing on the rebound, more people are jumping into the market, although not everyone is finding equal amounts of success. Why do some investments turn into gold mines and some into money pits? If they had taken the right measures beforehand, they would’ve realized that the numbers just didn’t add up. Before your next real estate investment, you need to ask things like: Have you measured every component of value, such as cash flow, income taxes, financing, and investment yield? Do you know which calculations to use on specific properties? Have you weighed all the risks? In The Real Estate Investor’s Pocket Calculator, finance expert and author Michael C. Thomsett shows you how to: Gauge supply and demand Project return on investment and equity Analyze present and future value Calculate cash flow Make accurate tax projections Fewer mistakes and less guess work. Larger returns and even more opportunities for additional investments. It’s all possible now with the help of The Real Estate Investor’s Pocket Calculator!
Author : Alex Anas
Publisher :
ISBN 13 :
Total Pages : 288 pages
Book Rating : 4.3/5 (555 download)
Download or read book Residential Location Markets and Urban Transportation written by Alex Anas and published by . This book was released on 1982 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ms.Nan Geng
Publisher : International Monetary Fund
ISBN 13 : 1484367626
Total Pages : 24 pages
Book Rating : 4.4/5 (843 download)
Download or read book Fundamental Drivers of House Prices in Advanced Economies written by Ms.Nan Geng and published by International Monetary Fund. This book was released on 2018-07-13 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: House prices in many advanced economies have risen substantially in recent decades. But experience indicates that housing prices can diverge from their long-run equilibrium or sustainable levels, potentially followed by adjustments that impact macroeconomic and financial stability. Therefore there is a need to monitor house prices and assess whether they are sustainable. This paper focuses on fundamentals expected to drive long run trends in house prices, including institutional and structural factors. The scale of potential valuation gaps is gauged on the basis of a cross-country panel analysis of house prices in 20 OECD countries.
