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Author: Robert H. Edelstein Publisher: ISBN: Category : Languages : en Pages :
Book Description
This study demonstrates that taking into account heterogeneous investment horizons will improve our understanding of housing price and trading dynamics. Using an OLG (Overlapping Generations) model in which agents have heterogeneous preferences and investment horizons, with transaction costs, short term investors are more sensitive to changes in economic fundamentals and are less likely to own (and trade) in a declining market. The model predicts that the ownership composition contains information about current and future house prices and trading dynamics. Empirically, we find that home owners' expected holding horizons co-vary negatively with house prices, and they also predict future (short term) returns.
Author: Robert H. Edelstein Publisher: ISBN: Category : Languages : en Pages :
Book Description
This study demonstrates that taking into account heterogeneous investment horizons will improve our understanding of housing price and trading dynamics. Using an OLG (Overlapping Generations) model in which agents have heterogeneous preferences and investment horizons, with transaction costs, short term investors are more sensitive to changes in economic fundamentals and are less likely to own (and trade) in a declining market. The model predicts that the ownership composition contains information about current and future house prices and trading dynamics. Empirically, we find that home owners' expected holding horizons co-vary negatively with house prices, and they also predict future (short term) returns.
Author: Thomas Sowell Publisher: Basic Books (AZ) ISBN: 0465018807 Category : Business & Economics Languages : en Pages : 194
Book Description
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: J Cauvain Publisher: PDT ISBN: Category : Business & Economics Languages : en Pages : 106
Book Description
"Tips & Tricks for 1st Time Home Buyers" is an essential guide designed to assist first time home buyers in navigating the complexities of the real estate market. Acknowledging the daunting nature of purchasing a home, this book provides practical advice and insights tailored specifically for those entering the housing market for the first time. The book begins by outlining current real estate market trends across various Western countries, including the USA, Canada, UK, Australia, and New Zealand. It emphasizes understanding the economic environment as a crucial first step. Subsequent chapters focus on financial preparation, offering strategies for saving for a down payment, comprehending credit scores, and securing favourable mortgage options. As readers progress through the chapters, they will learn about searching for homes effectively, negotiating deals successfully, and navigating closing processes. The text highlights common pitfalls that first-time buyers may encounter and provides checklists for home inspections to ensure thorough evaluations. Additionally, it offers guidance on working with real estate agents and lawyers to streamline transactions. Interspersed throughout are practical case studies from successful first-time buyers that provide encouragement and real-world insights. By the end of this comprehensive guide, readers will feel empowered to make informed decisions in their home-buying journey, equipped with knowledge to tackle challenges confidently and approach this significant life milestone with assurance.
Author: Colin Jones Publisher: John Wiley & Sons ISBN: 1118280830 Category : Law Languages : en Pages : 337
Book Description
This timely book addresses key challenges faced by policy makers and the house-building industry in a post-credit crunch world. It examines the implications for households, the housing market, the economy, as well as for government's policy choices. Challenges of the Housing Economy: an international perspective brings together experts from around the world to examine recent housing market trends. The contributions reveal common long-term trends in housing markets worldwide. Despite differences in supply conditions and the role of planning, there is a trend toward rising house prices that has created significant barriers to home ownership for young households while increasing the wealth of older generations. The financial crisis had a differential impact on housing markets but in many countries where mortgage finance became severely constrained, house prices fell and there was a dramatic fall in housing construction. The falls in house prices in these countries have ostensibly improved affordability but the housing markets have been dominated by the lowering of loan to values applicable to new mortgages which has further raised the hurdles to potential first-time purchasers. At the same time as young households are increasingly rationed out of owner-occupation, public sector expenditure cut-backs in many countries result in limited new social housing. Instead, value for money imperatives will mean new funding models for affordable housing that require greater use of public-private partnerships. The private rented sector could potentially meet the demand for the new generation of long-term renters. However, there are doubts - in the UK at least - that this sector will be able to expand significantly or provide an appropriate type and standard of housing. This is an essential advanced text for students and researchers of land economy and land management; property and real estate; housing policy; and urban studies.
Author: Susan J. Smith Publisher: Routledge ISBN: 1317968034 Category : Business & Economics Languages : en Pages : 217
Book Description
House prices and mortgage debt have moved to centre stage in the management of national economies, regional development and neighbourhood change. Describing, analysing and understanding how housing markets work within and across these scales of economy and society has never been more urgent. But much more is known about the macro-scales than the microstructures; and about the economic rather than social drivers of housing market dynamics. This book redresses the balance. It shows that housing markets are social, cultural and psychological – as well as economic – affairs. This multidisciplinary approach is helpful in understanding the economic staples of supply, demand, price and information. It also casts new light on the emotional and political economy of markets.
Author: Richard Koss Publisher: International Monetary Fund ISBN: 1484348559 Category : Business & Economics Languages : en Pages : 33
Book Description
The sharp rise of house prices in China’s Tier-1 cities has fostered a great deal of commentary about the possibility of bubbles forming there. However, China’s unique housing market characteristics make it difficult to assess the macroeconomic severity of bursting bubbles, even if they exist. These include the setting of land supply and prices by the government, among many others. The presence of overbuilt “ghost cities” greatly complicates the ability of traditional macroeconomic policies to address these concerns. This paper looks at proposals to shore up the mortgage underwriting and legal infrastructure to help China withstand the impact of falling prices, should this occur.
Author: Avi Goldfarb Publisher: University of Chicago Press ISBN: 022620684X Category : Business & Economics Languages : en Pages : 510
Book Description
There is a small and growing literature that explores the impact of digitization in a variety of contexts, but its economic consequences, surprisingly, remain poorly understood. This volume aims to set the agenda for research in the economics of digitization, with each chapter identifying a promising area of research. "Economics of Digitization "identifies urgent topics with research already underway that warrant further exploration from economists. In addition to the growing importance of digitization itself, digital technologies have some features that suggest that many well-studied economic models may not apply and, indeed, so many aspects of the digital economy throw normal economics in a loop. "Economics of Digitization" will be one of the first to focus on the economic implications of digitization and to bring together leading scholars in the economics of digitization to explore emerging research.
Author: Robert H. Edelstein
Author: Robert H. Edelstein
Author: Thomas Sowell
Author: J Cauvain
Author: Colin Jones
Author: Susan J. Smith
Author: Richard Koss
Author: Yasuhiro Nakagami
Author: Donald J. Hempel
Author: Avi Goldfarb
Author: François Ortalo-Magné