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Author: Morris A. Davis Publisher: ISBN: Category : Homesites Languages : en Pages : 44
Book Description
"We combine publicly available data from Freddie Mac, the Decennial Census of Housing, and the Bureau of Economic Analysis to construct the first constant-quality aggregate price index for the stock of residential land in the United States. We uncover five main results: (a) since 1970, residential land prices have grown faster but (b) have also been twice as volatile as existing home prices; (c) averaged from 1970 to 2003, the nominal stock of residential land under 1-4 unit structures accounts for 38% of the market value of the housing stock and is equal to 50% of nominal annual GDP; (d) the real stock of residential land under 1-4 unit structures has increased an average of 0.6% per year since 1970; and (e) residential investment leads the price of residential land by three quarters. We also estimate that in 2003:Q3 the nominal value of the entire stock of residential land is the same as annual GDP. Finally, we show for the US data that the logarithms of the nominal price index for residential land, disposable income, and interest rates are cointegrated"--Abstract.
Author: Morris A. Davis Publisher: ISBN: Category : Homesites Languages : en Pages : 44
Book Description
"We combine publicly available data from Freddie Mac, the Decennial Census of Housing, and the Bureau of Economic Analysis to construct the first constant-quality aggregate price index for the stock of residential land in the United States. We uncover five main results: (a) since 1970, residential land prices have grown faster but (b) have also been twice as volatile as existing home prices; (c) averaged from 1970 to 2003, the nominal stock of residential land under 1-4 unit structures accounts for 38% of the market value of the housing stock and is equal to 50% of nominal annual GDP; (d) the real stock of residential land under 1-4 unit structures has increased an average of 0.6% per year since 1970; and (e) residential investment leads the price of residential land by three quarters. We also estimate that in 2003:Q3 the nominal value of the entire stock of residential land is the same as annual GDP. Finally, we show for the US data that the logarithms of the nominal price index for residential land, disposable income, and interest rates are cointegrated"--Abstract.
Author: Jeffery Johnson Smith Publisher: TrineDay ISBN: 1634242998 Category : Nature Languages : en Pages : 343
Book Description
How much do we spend on the nature we use? Answer that and you'll know the size of your commonwealth and the coming phase of the economy. Most economists bundle land with capital or leave out land and its rent altogether—and cripple their discipline. "Geonomists", OTOH, forecast the last recession to the exact quarter. Counting Bounty highlights a widespread blindspot. Most of us overlook land and its power to twist an economy. Householders typically spend most of their budget on land —beneath their homes and within every purchase like food—without awareness. Tallying rent, this work fills in those blindspots with insights society needs to know. It's not possible to do economics without getting politics all over you. The story begins with the official and academic efforts to minimize the total worth of Earth in America. A perusal of the historical relationship between the elite and the intellectual shows that paying the piper, calling the tune, is the norm, even up to the present. Using a slew of statistics and others' research findings, I track rent to its recipients, to the rentiers who own much and wield much power. The cited sources give the story more legs to stand on than a centipede. Aware reformers can address pressing problems by tapping land value. Towns in Pennsylvania infill instead of sprawl; efficient land use conserves energy. Pittsburgh spurs urban renewal sans subsidy; cities are cash starved. Once towns in Australia experienced factory openings ... during a recession! Aspen Colorado and Hong Kong build affordable housing, narrowing inequality. Alaska and Singapore pay residents a dividend, freeing some to drop out of the rat race. Watching rent flow sheds light on how economies operate, why they sometimes fail, and what a society can do about it. As critical issues reach a tipping point, the problems that misdirecting rent causes, redirecting rent can solve. Drawing attention to the grand total for rent by itself raises the possibility of redirecting
Author: OECD Publisher: OECD Publishing ISBN: 9264197184 Category : Languages : en Pages : 186
Book Description
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.
Author: P. Arestis Publisher: Springer ISBN: 0230246982 Category : Business & Economics Languages : en Pages : 269
Book Description
Housing finance structures and Institutional and regulatory/fiscal aspects in housing have changed significantly in recent years. This book examines the development in housing markets in Europe and the US, and looks at ways to make housing more affordable and housing market developments more stable.
Author: Robert C. Ellickson Publisher: Aspen Publishing ISBN: 1543820786 Category : Law Languages : en Pages : 922
Book Description
Land Use Controls: Cases and Materials emphasizes an interdisciplinary approach that weaves historical, social, and economic causes and effects of legal doctrine. The casebook also brings out the functional relationships between formally unrelated routes of law—statutes, ordinances, constitutional doctrines, and common law—by focusing on their practical deployment, developers, neighbors, planners, politicians, and their empirical effects on outcomes like neighborhood quality, housing supply, racial segregation, and tax burdens. A thematic framework illuminates the connections among multiple topics under land law and gives attention to the factual and political context of the cases and aftermath of decisions. Dynamic pedagogy features original introductory text, cases, notes, excerpts from law review articles, and visual aids (maps, charts, graphs) throughout. New to the Fifth Edition: A focus on affordability and the new conflicts over urban zoning A fully updated treatment of local administrative law Recent constitutional rulings, including up-to-date Supreme Court decisions on exactions and regulatory takings Thoroughly updated notes, with recent cases, law review literature, and empirical studies Professors and students will benefit from: Distinguished authorship by respected scholars and professors with a range of expertise An interdisciplinary approach combining historical, social, political, and economic perspectives and offering dynamic opportunities for analysis along with broad legal coverage Concise but comprehensive treatment of the legal issues in private and public regulation of land development, including environmental justice, building codes and subdivision regulations, and the federal role in urban development A thematic framework illuminating connections among multiple discrete topics under land law and the factual and political context of cases and aftermath of decisions Excellent coverage and dynamic pedagogy
Author: Murtaza Baxamusa Publisher: Routledge ISBN: 1000096599 Category : Architecture Languages : en Pages : 123
Book Description
A New Model for Housing Finance presents a thought-provoking solution to the housing crisis that follows the division of public and private money on housing costs and benefits. It brings a practical perspective on why housing is unaffordable, and what can be done about it using public and private capital. This book re-examines the foundation of housing finance in the United States with the aim to shift the paradigm from the public and private sectors working in silos, to working together. Through brief yet rigorous chapters, the book assesses the policy failures of both public and private sectors by drawing attention to the continuing human impacts of this man-made crisis, finally calling for a new model of financing housing through public–private partnerships. The limited impact and false hope of planning interventions, as well as the widespread economic impacts of the global pandemic of 2020, demonstrate the urgent need for change in our approach to housing policy, and this book lays out a path forward. It will be of interest to anyone working in or studying housing, social justice, urban planning, urban studies, and public policy.
Author: Amnon Lehavi Publisher: Springer ISBN: 3319668692 Category : Political Science Languages : en Pages : 223
Book Description
This book reconsiders the fundamental principles of zoning and city planning over the course of the past one-hundred years, and the lessons that can be learned for the future of cities. Bringing together the contributions of leading scholars, representing diverse methodologies and academic disciplines, this book studies core questions about the functionality of cities and the goals that should be promoted via zoning and planning. It considers the increasing pace of urbanization and growth of mega cities in both developed and developing countries; changing concepts on the role of mixed-use and density zoning; new policies on inclusionary zoning as a way to facilitate urban justice and social mobility; and the effects of current macrophenomena, such as mass immigration and globalization, on the changing landscape of cities. The book’s twelve chapters are divided into four parts, each addressing different aspects of zoning and planning by combining theoretical analysis with a close observation of diverse case studies from North America and Europe to the Middle East and developing economies. Part I offers a critical analysis of the conventional account of zoning as a top-down form of land-use regulation starting with the 1916 NYC code. Part II studies how contemporary concepts of zoning, both substantive and procedural, impact the built environment across today’s cities. Part III revisits the economic foundations of zoning and urban policy in the context of domestic markets, as compared with the regulatory and market effects of interstate agreements on cross-border real estate investments. Part IV analyzes the dominant, yet often implicit social and political motives that are driving zoning policies across different countries. This volume’s focus on the ties between zoning policy and economics, politics, socioeconomic conditions, and the local-to-global scope of governance will appeal to scholars and students of political science, economics, law, planning, sustainability, geography, sociology, and architecture, as well as policy-makers and practitioners, especially those in developing countries and transitional and emerging economies.
Author: Pierluigi Morano Publisher: Springer Nature ISBN: 3030495795 Category : Business & Economics Languages : en Pages : 337
Book Description
This book features a selection of the best papers presented at two recent conferences organized by the SIEV (Italian Society of Appraisal and Valuation). Taking into account the current need for evaluative skills in order to make effective and sustainable investments, it highlights the multidisciplinary role of valuation, which opens the door for interactions with other sectors, scientific and professional fields. The book collects twenty-two papers, divided into three parts (Territory & Urban Planning, Real Estate Assets & the Construction Building Process, Real Estate Finance & Property Management) that reflect the main issues of interest for future urban development policies, namely: feasibility analysis for investments; selecting which decision support models to apply in complex contexts; enhancement of public and private assets; evaluating the effects produced by territorial investments; valuation approaches to properties; risk assessment; and strategies for monitoring energy consumption and soil sealing.
Author: Morris A. Davis
Author: Morris A. Davis
Author: Grace Milgram
Author: Jeffery Johnson Smith
Author: OECD
Author: P. Arestis
Author: Robert C. Ellickson
Author: Murtaza Baxamusa
Author: Amnon Lehavi
Author: Pierluigi Morano
Author: United States. Congress. Joint Economic Committee