Essays On The Determinants Of Housing Prices
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Essays On The Determinants Of Housing Prices
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Author : Anupam Nanda
language : en
Publisher:
Release Date : 2006
Essays On The Determinants Of Housing Prices written by Anupam Nanda and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Essays On The Determinants And Spillovers Of South African Housing Market
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Author : Beatrice Desiree Simo-Kengne
language : en
Publisher:
Release Date : 2013
Essays On The Determinants And Spillovers Of South African Housing Market written by Beatrice Desiree Simo-Kengne and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
Essays On Investment And House Prices
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Author : Thang Long Tran
language : en
Publisher:
Release Date : 2014
Essays On Investment And House Prices written by Thang Long Tran and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
This thesis combines four related essays that examine investment activities and housing dynamics in Australia. The first essay investigates the key drivers of Australian aggregate business investment. Tobin's q, income, cash flow and uncertainty impacts on investment are determined and disentangled. Uncertainty and demand constraints are revealed to be highly significant for investment over business cycle frequencies. The second essay examines the firm-level investment determinants of listed non-financial companies in the Australian stock market. Although both having negative effects on firm investment, firm specific uncertainty is more important in explaining firm investment than macroeconomic uncertainty. The third essay analyses the price dynamics of the Australian housing market during the last three decades using a housing behavioral economic model based on nominal variables and the behavior of house buyers. The empirical evidence shows that the proposed model is equivalent or even better than other conventional models in explaining house price dynamics. In the last essay, private housing investment in Australia since the 1980s is investigated using Tobin's q and stock-flow models. A long-term co-integration relationship between Tobin's q and the investment ratio, as posited by q theory is not found, while changes in q have an impact on investment in the short-term. The determinants extracted from the stock-flow model explain the movement of housing investment. Uncertainty and construction costs are revealed not to be highly significant for investment. There is evidence of a positive correlation between investment and business cycles.
Essays On Housing Markets
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Author : Christian Landers Redfearn
language : en
Publisher:
Release Date : 2000
Essays On Housing Markets written by Christian Landers Redfearn and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with categories.
Four Essays On Housing Market Dynamics
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Author : Yasuhiro Nakagami
language : en
Publisher:
Release Date : 1989
Four Essays On Housing Market Dynamics written by Yasuhiro Nakagami and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Housing categories.
Essays In Housing Markets
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Author : Nadezda Andreevna Kotova
language : en
Publisher:
Release Date : 2021
Essays In Housing Markets written by Nadezda Andreevna Kotova and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
This dissertation studies inefficiencies and riskiness in the US housing market. In Chapter I, coauthored with Anthony Lee Zhang, we study liquidity in residential real estate markets and show that market illiquidity is a key determinant of individual house price risk. In Chapter II, coauthored with Zi Yang Kang, we study how the quality of houses traded in a market evolves in the presence of predictable cyclical changes in market conditions. Chapter III studies how industrial concentration creates risk concentration through amplified pass-through of industry-specific productivity shocks into local house prices, wages, and employment.
Essays On Income Distribution And Housing Prices
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Author : Yang Tang
language : en
Publisher:
Release Date : 2013
Essays On Income Distribution And Housing Prices written by Yang Tang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Electronic dissertations categories.
This thesis focuses on some prominent features in both U.S and Chinese economy. For instance, average housing price per square meter in China has been almost tripled from 1998 to 2010. What drives housing price growth? How much housing price growth can be explained by some fundamental factors? Those questions are interesting since it allows us to explore whether there is a bubble component in the housing price. If bubble exists, then how large it is? Another clear observation is that income inequality has risen sharply in U.S over the past several decades. What are those factors that might contribute to this trend? How financial friction may affect income distribution and people's education choice? Those are important issues that deserve further study.
House Prices And Household Behavior
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Author : Kevin Russell Krivacsy
language : en
Publisher:
Release Date : 2018
House Prices And Household Behavior written by Kevin Russell Krivacsy and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with City planning categories.
Residential property values have only recently recovered from the effects of the Great Recession and the housing bubble and burst. During this period, cities were not collecting as much tax revenue as predicted because of depressed housing prices and the global economy suffered greatly because of it.Economists and others have studied the causes of the instability in property values in recent years from many angles. Their research has been influential in explaining what happened to the housing market during that time. Yet, what is missing is a detailed level analysis of how the spatial structure of our cities may contribute to this instability or stability in residential property values and a better understanding of their local dynamics.While economists are likely correct in their macroeconomic focus, there is still room for research on the role that local factors may have played or will play in the determination of residential property values. Even within metropolitan areas, there may have been a difference in magnitude of property value fluctuation.Therefore, this study focuses on the extent to which the urban form may contribute to overall economic stability as seen through the stability of residential property values. This research builds on past research by 1) incorporating more detailed and accurate neighborhood measures, 2) contributing to the literature by conducting cointegration at a very local level and 3) assessing the impact that neighborhood, demographic and economic attributes at the local level may have on the long-term stability of property values in our urban areas.
Essays On Housing Prices
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Author : Yifan Chen
language : en
Publisher:
Release Date : 2022
Essays On Housing Prices written by Yifan Chen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.
This dissertation examines the dynamics between housing prices, firms, and households. The first chapter focuses on sequential information revelation in the housing markets; the second chapter investigates the impact of house price appreciation on the returns of value versus growth firms; the third chapter estimates the effect of gun control on home values. In Chapter 1, I use Amazon's progressive revelation of its new headquarters locations in Virginia and New York to demonstrate that the housing market fully incorporates information about future demand well before disclosure. Spatial difference-in-differences analysis shows that housing prices near the Virginia headquarters exhibit 4.9% premia before Amazon's headquarters decision but no additional increase upon decision. Price premia for New York reach 17.5% before the decision but disappear once Amazon cancels the headquarters. Other finalist cities exhibit no price premia, precluding the possibility of speculation. Overall, this study suggests that the housing market can quickly incorporate private information about future demand shocks. In Chapter 2, I investigate the value-growth premium puzzle by merging insights from urban economics and finance that relate firm location to its stock performance. The value-growth premium in locations with high historical house price appreciation is 3.6% per year larger than the premium in areas that experienced little house price appreciation. The results support investment-based models explaining the value premium; moreover I find the house price channel reduces returns of growth firms rather than increasing returns of value firms. House price appreciation remains significant after controlling for common explanations of the premium. In Chapter 3, using cross-border variation in the timing of state gun control law passage dates, I find that the introduction of universal background checks for gun sales results in a roughly 2.3 percent decline in housing prices on average. I find a more significant decrease in housing prices, i.e., up to 5.3 percent, if the state is neighboring a Republican rather than a Democratic state. This result is robust to several specification tests and does not appear to be associated with neighborhood crime rate changes.
Three Essays On Sellers Behavior In The Housing Market
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Author : Svetoslava N. Alexandrova
language : en
Publisher:
Release Date : 2017
Three Essays On Sellers Behavior In The Housing Market written by Svetoslava N. Alexandrova and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Housing markets exhibit some puzzling behavior that cannot be completely explained by rational market dynamics. The neoclassical economic theory posits that rational sellers and rational buyers in the housing market will look at the current market price in order to determine a value of a property. Studies, however, show that physiological biases may affect the decision- making process of both sellers and buyers.I examine the behavior of sellers in the housing market in three different settings. In Essay 1, I analyze the effects of the health of the housing market on mobility. In Essay 2, I study the effects of sellers' loss aversion on listing price and time on the market within the prospect theory framework. In Essay 3, I focus on identifying stress in the housing market by developing a stress index and commencing the design of an Early Warning System that incorporates signals from the market and behaviors from sellers to indicate increasing levels of pressure. I utilize a data set of private home sale transactions of corporate relocations for the period 2004-2014. The results of the first study from the stepwise logit models on series of economic variables and demographic factors show that relocating employees facing negative equity situations and equity less than 5% of home value have a greater chance of rejecting relocation while economic factors like affordability and credit availability have a positive effect on their ability to move. Essay 2 results indicate that a seller who faces a loss will set up an asking price 5.69 percent higher than they would otherwise. Additionally, sellers facing a loss will experience a reduction in the hazard rate of sale resulting in longer time on the market while income and family status have effect on loss aversion and time on market. In the last essay, I hypothesize that economic signals and home sellers' behaviors can explain the variability of the housing market stress index proxied by a transformed S&P 500/Case Shiller Index. The preliminary results of the autoregressive models find that housing variables and market expectations of the 'informed sellers' have statistically significant explanatory power.