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Author :
Publisher :
ISBN 13 :
Total Pages : 198 pages
Book Rating : 4.3/5 (91 download)
Download or read book Journal of Housing Research written by and published by . This book was released on 1993 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sherman J. Maisel
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (42 download)
Download or read book Housing and the Fight Against Inflation written by Sherman J. Maisel and published by . This book was released on 1978 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Patricia F. Apps
Publisher :
ISBN 13 : 9780950085395
Total Pages : 17 pages
Book Rating : 4.0/5 (853 download)
Download or read book Tenure, Real Housing Costs, and House Price Inflation written by Patricia F. Apps and published by . This book was released on 1973 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Elizabeth Fretty
Publisher : Elizabeth Fretty
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4./5 ( download)
Download or read book ODDS OF FALLING HOME PRICES written by Elizabeth Fretty and published by Elizabeth Fretty. This book was released on 2023-06-23 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Home listing prices continue to be high. Mortgage interest rates are high; the last time they were this high was in the early 2000s. But the cost of borrowing is likely to go up over the next year, which will make the decision much harder for people who may need to buy in that time. The majority of us will continue investing in the markets and accumulating money for a down payment until the housing market stabilizes. Q.ai eliminates uncertainty from investment. Here’s How Strange the Housing Market Is Getting Right Now. In other words, rising mortgage rates are bad news for the housing market, and the US just saw one of the sharpest hikes ever. Home buyers are now dealing with severe price shock as affordability indicators are deteriorating at their highest rate ever. In fact, a number of market milestones have been reached recently, with mortgage spreads and benchmark interest rates reaching levels that haven’t been seen in decades while the number of new sales is declining at a rate that is faster than even during the period following the global
Author : Sarah Monk
Publisher : John Wiley & Sons
ISBN 13 : 1444340883
Total Pages : 377 pages
Book Rating : 4.4/5 (443 download)
Download or read book Making Housing more Affordable written by Sarah Monk and published by John Wiley & Sons. This book was released on 2011-01-07 with total page 377 pages. Available in PDF, EPUB and Kindle. Book excerpt: The movement away from traditional rented approaches to meeting the housing needs of those on modest incomes has taken on new momentum in the latest economic cycle. This book answers some of the questions around affordable housing and low cost home ownership, and whether these intermediate tenures have the potential to play a longer term role in achieving sustainable housing markets. The editors clarify the principles on which the development of affordable housing and intermediate tenures has been based; analyse the policy instruments used to implement these ideas; and make a preliminary assessment of their longer tem value to households and governments alike. Making Housing More Affordable: the role of intermediate tenures brings together an evidence base for researchers and policy makers as they assess past experience and work to understand future options. The book draws mainly on experience of the intermediate housing market in England but also on examples of policies that have been implemented across the world. It clarifies both the challenges and the achievements of governments in providing a well operating intermediate market that can help meet the fundamental goal of ‘a decent home for every household at a price within their means’. The first section outlines the principles and practice of intermediate housing and examines the instruments and mechanisms by which it has been provided internationally. The next section estimates who might benefit from being in intermediate housing and projects the take-up of different products in the future. Section III examines the supply side and Section IV introduces some case studies of who gets what. The final section looks at how effectively the intermediate market operates over the economic cycle.
Author : John A. Tuccillo
Publisher :
ISBN 13 :
Total Pages : 200 pages
Book Rating : 4.3/5 (91 download)
Download or read book House Prices and Inflation written by John A. Tuccillo and published by . This book was released on 1981 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Pascal Towbin
Publisher : International Monetary Fund
ISBN 13 : 1513581279
Total Pages : 35 pages
Book Rating : 4.5/5 (135 download)
Download or read book Price Expectations and the U.S. Housing Boom written by Pascal Towbin and published by International Monetary Fund. This book was released on 2015-07-30 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Between 1996 and 2006 the U.S. has experienced an unprecedented boom in house prices. As it has proven to be difficult to explain the large price increase by observable fundamentals, many observers have emphasized the role of speculation, i.e. expectations about future price developments. The argument is, however, often indirect: speculation is treated as a deviation from a benchmark. The present paper aims to identify house price expectation shocks directly. To that purpose, we estimate a VAR model for the U.S. and use sign restrictions to identify house price expectation, housing supply, housing demand, and mortgage rate shocks. House price expectation shocks are the most important driver of the boom and account for about 30 percent of the real house price increase. We also construct a model-based measure of exogenous changes in price expectations and show that this measure leads a survey-based measure of changes in house price expectations. Our main identification scheme leaves open whether expectation shifts are realistic or unrealistic. In extensions, we provide evidence that price expectation shifts during the boom were primarily unrealistic and were only marginally affected by realistic expectations about future fundamentals.
Author : Harvey S. Rosen
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.0/5 ( download)
Download or read book Housing Tenure, Uncertainty, and Taxation written by Harvey S. Rosen and published by . This book was released on 1983 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: Modern empirical work on the choice between renting and owning focuses on the concept of the "user cost" of housing, which integrates into a single measure the various components of housing costs. The standard approach implicitly assumes that households know the user cost of housing with certainty. However, the ex post user cost measure exhibits substantial variability over time, and it is highly unlikely that individuals believe themselves able to forecast these fluctuations with certainty. In this paper, we construct and estimate a model of the tenure choice that explicitly allows for the effects of uncertainty. The results suggest that previous work which ignored uncertainty may have overstated the effects of the income tax system upon the tenure choice.
Author : Joshua Hojvat Gallin
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.E/5 ( download)
Download or read book The Long-run Relationship Between House Prices and Rents written by Joshua Hojvat Gallin and published by . This book was released on 2004 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: "I show that when house prices are high relative to rents (that is, when the rent-price ratio is low) changes in real rents tend to be larger than usual and changes in real prices tend to be smaller than usual. Standard error-correction models provide inconclusive results about the predictive power of the rent-price ratio at a quarterly frequency. I use a long-horizon regression approach to show that the rent-price ratio helps predict changes in real rents and real prices over three-year periods. This result withstands the inclusion of a measure of the user cost of capital. I show that a long-horizon regression approach can yield biased estimates of the degree of error correction if prices have a unit root but do not follow a random walk. I construct bootstrap distributions to conduct appropriate inference in the presence of this bias. The results lend empirical support to the view that the rent-price ratio is an indicator of valuation in the housing market"--Abstract.
Author : Francesco Beraldi
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 47 pages
Book Rating : 4.4/5 (2 download)
Download or read book The Pricing-Out Phenomenon in the U.S. Housing Market written by Francesco Beraldi and published by International Monetary Fund. This book was released on 2023-01-06 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic further extended the multi-year housing boom in advanced economies and emerging markets alike against massive monetary easing during the pandemic. In this paper, we analyze the pricing-out phenomenon in the U.S. residential housing market due to higher house prices associated with monetary easing. We first set up a stylized general equilibrium model and show that although monetary easing decreases the mortgage payment burden, it would raise house prices, lower housing affordability for first-time homebuyers, and increase housing wealth inequality between first-time and repeat homebuyers. We then use the U.S. household-level data to quantify the effect of the house price change on housing affordability relative to that of the interest rate change. We find evidence of the pricing-out effect for all homebuyers; moreover, we find that the pricing-out effect is stronger for first-time homebuyers than for repeat homebuyers. The paper highlights the importance of accounting for general equilibrium effects and distributional implications of monetary policy while assessing housing affordability. It also calls for complementing monetary easing with well-targeted policy measures that can boost housing affordability, particularly for first-time and lower-income households. Such measures are also needed during aggressive monetary tightening, given that the fall in house prices may be insufficient or too slow to fully offset the immediate adverse impact of higher rates on housing affordability.
Author : Richard K. Green
Publisher : The Urban Insitute
ISBN 13 : 9780877667025
Total Pages : 240 pages
Book Rating : 4.6/5 (67 download)
Download or read book A Primer on U.S. Housing Markets and Housing Policy written by Richard K. Green and published by The Urban Insitute. This book was released on 2003 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book that explains the economics of housing policy for a general audience. Planners, government officials, and public policy students will find that the economic perspective is a very powerful and useful way to examine these issues. The authors provide a broad review of the market for housing services in the U.S., including a conceptual framework, an overview of housing demand and supply, methods for measuring prices and quantities, and sources of basic data on markets. They cover housing programs and polices, and offer answers to policy questions that are of current interest. The book has been field-tested in graduate and undergraduate courses in urban and housing economics at the University of Wisconsin, the University of California--Berkeley, The University of Pennsylvania, and others. This book is also sure to be useful to policymakers, advocates, economists, and anyone interested in a clear picture of how housing markets function. Published in cooperation with the American Real Estate and Urban Economics Association (AREUEA).
Author : Eric S. Belsky
Publisher : Brookings Institution Press with the Joint Center for Housing Studies of Harvard University
ISBN 13 : 0815725647
Total Pages : 497 pages
Book Rating : 4.8/5 (157 download)
Download or read book Homeownership Built to Last written by Eric S. Belsky and published by Brookings Institution Press with the Joint Center for Housing Studies of Harvard University. This book was released on 2014-06-27 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ups and downs in housing markets over the past two decades are without precedent, and the costs—financial, psychological, and social—have been enormous. Yet Americans overwhelmingly still aspire to homeownership, and many still view access to homeownership as an important ingredient for building wealth among historically disadvantaged groups. This timely volume reexamines the goals, risks, and rewards of homeownership in the wake of the housing bubble and subprime lending crisis. Housing, real estate, and finance experts explore the role of government in supporting homeownership, deliberate how homeownership can be made more sustainable, and discuss how best to balance affordability, access, and risk, particularly for minorities and lowincome families. Contributors: Eric S. Belsky (JCHS); Raphael W. Bostic (University of Southern California); Mark Calabria (Cato Institute); Kaloma Cardwell (University of California, Berkeley); Mark Cole (Hope LoanPort); J. Michael Collins (University of Wisconsin–Madison); Marsha J. Courchane (Charles River Associates); Andrew Davidson (Andrew Davidson and Co.); Christopher E. Herbert (JCHS); Leonard C. Kiefer (Freddie Mac); Alex Levin (Andrew Davidson and Co.); Adam J. Levitin (Georgetown University Law Center); Mark R. Lindblad (University of North Carolina at Chapel Hill); Jeffrey Lubell (Abt Associates); Patricia A. McCoy (University of Connecticut School of Law); Daniel T. McCue (JCHS); Jennifer H. Molinsky (JCHS); Stephanie Moulton (Ohio State University); john a. powell (University of California–Berkeley); Roberto G. Quercia (University of North Carolina at Chapel Hill); Janneke H. Ratcliffe (University of North Carolina); Carolina Reid (University of California–Berkeley); William M. Rohe (University of North Carolina at Chapel Hill); Rocio Sanchez-Moyano (JCHS); Susan Wachter (University of Pennsylvania); Peter M. Zorn (Freddie Mac)
Author : Mr.Martin Cihak
Publisher : International Monetary Fund
ISBN 13 : 1451871058
Total Pages : 34 pages
Book Rating : 4.4/5 (518 download)
Download or read book Interest Rate Elasticity of Residential Housing Prices written by Mr.Martin Cihak and published by International Monetary Fund. This book was released on 2008-10-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the interest rate elasticity of housing prices, advancingthe empirical literature in two directions. First, we take a commonly used cross-country panel dataset and evaluate the housing price equation using a consistent estimator in the presence of endogenous explanatory variables and a lagged dependent variable. Second, we carry-out a novel analysis of determinants of residential housing prices in a cross-section of countries. Our results show that the short-term interest rate, and hence monetary policy, has a sizable impact on residential housing prices.
Author : Patric H. Hendershott
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (159 download)
Download or read book Home Ownership and Real House Prices written by Patric H. Hendershott and published by . This book was released on 1987 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two phenomena characterized the housing market in the 1970s: a somewhat-disguised surge toward home ownership and a well-publicized sharp increase in the real price of housing. These movements were partially reversed in the first half of the 1980s. In the "standard view", the 1970s changes are attributed to an interaction of the tax system and rising inflation. Given the disinflation of the 1980s, this explanation also seems consistent with the reversals in ownership and real prices. Recent work challenges the standard view. Inflation is said to disfavor home ownership, and real house prices are said to be determined largely by supply (cost), not demand, factors. This paper considers the data on home ownership and real house prices and evaluates the standard view vis-a-vis its challengers. Data from the 1980s suggest that other factors (probably rising income for ownership and negative construction productivity growth for real prices) were responsible for at least half of the 1970s increase in ownership and real price
Author :
Publisher : Tutor2u Limited
ISBN 13 : 1845820223
Total Pages : 87 pages
Book Rating : 4.8/5 (458 download)
Download or read book Housing Market Economics Digital Textbook written by and published by Tutor2u Limited. This book was released on with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Frans Dieleman
Publisher : Routledge
ISBN 13 : 1351515047
Total Pages : 372 pages
Book Rating : 4.3/5 (515 download)
Download or read book Households and Housing written by Frans Dieleman and published by Routledge. This book was released on 2017-07-12 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Residential relocation is the household decision that generates housing consumption changes. It is not merely a decision about changing locations; it is also a decision about tenure—about whether to own or to rent. Research into housing markets has been largely focused on the process of changing from renting to owning, as most countries in the Western world have moved from predominantly rental societies to societies of homeowners. Households and Housing is designed to demonstrate the interconnections between the housing stock and households. The focus is on understanding the demand for housing and the way in which the demand is fulfilled as households select housing. This book is concerned with both the decision to move one's residence and the resulting type of housing choice. The housing supply—the stock of dwellings—is the context within which households make choices and acquire housing. The authors use the concepts of life course, housing career, and housing hierarchy to trace the movement of households through the housing market. They paint a comprehensive picture of housing consumption by age, income, and tenure choice, illustrated with nearly 150 figures and tables. US housing market data are contrasted with data from the Netherlands to document the differential effects of government intervention. This is the most up-to-date analysis available on the dynamics of housing choices and housing markets.
Author : Geoffrey Meen
Publisher : Policy Press
ISBN 13 : 1529211883
Total Pages : 338 pages
Book Rating : 4.5/5 (292 download)
Download or read book Understanding Affordability written by Geoffrey Meen and published by Policy Press. This book was released on 2020-07-08 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: For many younger and lower-income people, housing affordability continues to worsen. Based on the academic research of two distinguished housing economists – and stimulated by working with governments across the world - this wide-ranging book sets out clear theoretical and empirical frameworks to tackle one of today’s most important socio-economic issues. Housing unaffordability arises from complex forces and a prerequisite to effective policy is understanding the causes of rising house prices and rents and the interactions between housing, housing finance and the macroeconomy. The authors challenge many of the conventional wisdoms in housing policy and offer innovative recommendations to improve affordability.
