Three Essays on Residential Land Development PDF Download

Author: Douglas Harvey Wrenn (II)
Publisher:
ISBN:
Category :
Languages : en
Pages : 103

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In our last essay, we develop a nonparametric estimation technique for spatial panel data. Using a Monte Carlo experiment, we show how extending current geographically weighted regression (GWR) models to account for temporal heterogeneity provides a better fit to the data when coefficient heterogeneity exists in both the spatial and temporal dimensions. We also show how the technique can be used in modeling real-world land use change by applying the proposed technique to a panel dataset of historical subdivision development.

Author: Gi-Don An
Publisher:
ISBN:
Category : Housing
Languages : en
Pages : 92

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Author: Sungin Ahn
Publisher:
ISBN: 9781085705516
Category : City planning
Languages : en
Pages : 66

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This dissertation addresses two major aspects concerning urban land development. The first is the effect of a floor area ratio ("FAR") regulation on land values and urban land development patterns. The model shows that holding all else equal, an increase in the stringency of regulation (a lower maximum-allowed FAR) 1) leads to a decrease in land value, even for those parcels where the regulation may not be binding today; 2) lowers the density of all converted buildings; and 3) hastens the development of all buildings. Our empirical exercise then tests certain aspects of this model in the context of New York city, using data constructed from a publicly available source. Second, this dissertation explores the role of market power in urban land development patterns. Utilizing social surplus analysis, we derive and contrast the optimality conditions for a social planner's and a monopolist's choice of density of housing and the rate at which land is released for development. We then provide a numerical example and a numerical comparative statics analysis. In our numerical examples, the monopolist always develops at a lower density than is optimal. The rate at which land is released for development, however, will depend on the parameters.

Author: Haoying Wang
Publisher:
ISBN:
Category :
Languages : en
Pages :

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This dissertation research takes three different approaches to study the urban land development process, mainly from a supply side perspective. The three approaches are organized into different essay chapters. Each chapter has its independent framework and methodology. Chapter 2 uses numerical optimization methods to explore how residential households allocate across space with introduction of distance related amenity/disamenity, as well as under nonmonocentric urban spatial structure. Chapter 3 proposes an agent-based simulation of housing market and land development to understand the role of home improvement as part of housing supply. An important feature of the proposed agent-based simulation model is that it allows for neighborhood spillover effects among home improvement activities. Chapter 4 assembles a micro panel data to empirically investigate the relationship between manufacturing decline and increased residential land development in Allegheny county, PA. One policy implication of the results is that, there might be a significant underestimate of household willingness to pay (WTP) for better air quality, due to the supply side effect of manufacturing decline induced air quality change.

Author: Katharine Emans Sims
Publisher:
ISBN:
Category : Conservation of natural resources
Languages : en
Pages : 366

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The third essay considers the case of local land conservation regulations in Massachusetts, asking how wetlands bylaws have impacted rates of land use change and housing development. Estimates of impacts rely on variation in the timing of adoption of wetlands protection measures. The third essay finds that wetlands bylaws have reduced the expansion of land used for residential development, but have not had significant effects on housing stock, housing prices, or housing density. The adoption of bylaws by neighboring communities, however, does significantly increase housing prices, suggesting possible regional supply constraints driven by the regulations.

Author: Céline Ferré
Publisher:
ISBN:
Category :
Languages : en
Pages : 344

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Author: Sutee Anantsuksomsri
Publisher:
ISBN:
Category :
Languages : en
Pages : 286

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This dissertation aims to demonstrate applications of regional science methodologies to analyze issues in real estate and urban economics in different scales: city, region, and country. The methodologies used in this dissertation include geographic information systems (GIS), spatial econometrics, and computable general equilibrium (CGE) modeling. There are three chapters in this dissertation. The first chapter studies the impact of the new mass transit systems on the land values of residential development in Bangkok, Thailand. GIS and spatial econometrics are used to examine the impacts. The study has found that the proximity to mass transit stations spatially correlates with an increase in the prices of residential land. The benefit of new mass transit stations, however, may not be equally distributed to the residents of Bangkok due to the lack of value capture mechanisms such as a capital gain tax or a property tax. Policy implications on property taxation are also discussed in this study. Chapter two discusses the economic impact of Cornell University on Tompkins County, New York, focusing on the impact of the investment on the new mixed-used development in Collegetown. This study is one of the first attempts to study the economic impact of a university using a CGE model. In addition, the assumption of increasing-returns-to-scale is incorporated into the framework of a small-area CGE model. This extension of the model allows for a more realistic representation of the imperfect competition in the economic simulation. In the last chapter, a financial CGE model is used to investigate the role of real estate investment in the economy of Thailand. This study discusses how the overinvested real estate market can cause the country to be vulnerable to a financial crisis. In addition, the relationship of real estate asset and property markets is incorporated into the model to captures interconnections between production sectors and financial sectors. The macroeconomic and socioeconomic indicators from the model simulation show that moderate investment in real estate sectors can lead to steady economic growth with small impact on income disparity.

Author: David E. Johnson
Publisher: ASCE Publications
ISBN: 9780784405611
Category : Architecture
Languages : en
Pages : 276

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Book Description
Primer for use by engineering schools and their students, and will provide real estate industry professionals with the practical tools to realize quick positive project results and the ability to implement these tools immediately on the job.

Author: James R. DeLisle
Publisher: Springer Science & Business Media
ISBN: 1461517036
Category : Business & Economics
Languages : en
Pages : 444

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Book Description
As the title indicates, Essays in Honor of James A. Graaskamp: Ten Years After, is a collection of essays written to honor Graaskamp's major contributions to the field of real estate education and practice over the course of three decades. Upon his death in 1988, the industry lost a major influence for advancing the real estate discipline, both as an academic field and a professional field. The authors in this volume seek to extend Graaskamp's contributions and move the real estate discipline forward. The papers address the challenges posed by the market to return our attention to real estate fundamentals, and to strike a proper balance between Main Street and Wall Street. The authors and editors hope that this book will influence the industry to incorporate many of Grasskamp's ideas into mainstream real estate education and practice. Over the course of his career, Graaskamp made many noteworthy contributions to real estate theory and practice, ideas that if resurrected could offset some of the pressure in the industry to move away from market fundamentals. The authors try to capture the essence of Graaskamp's messages, and intend that the papers serve as a point of departure for discussing the future role and nature of real estate education. Part I focuses on the major contributions to the real estate discipline made by Graaskamp and the Wisconsin Real Estate Program. Part II contains some personal recollections and photos of Graaskamp, and also a summary of the groups that make up the Wisconsin Real Estate Program, a major co-sponsor of this volume. The rest of the book's three main parts are structured around major topics that reflect the multidisciplinary nature of real estate as espoused by Graaskamp. Part III treats real estate feasibility and development, Part IV concentrates on real estate valuation, and Part V discusses institutional economics.

Author: Jae-Wan Ahn
Publisher:
ISBN:
Category : Air quality
Languages : en
Pages : 115

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Book Description
The United States is a highly urbanized nation. Today, with a growing number of people living in cities, a better understanding of how changes within urban areas impact the well-being of residents has important implications for policymakers and communities. The urban spatial structure of these cities is continually evolving, and in different ways across cities. This changing urban environment has substantial impacts on health and well-being. This dissertation takes a comprehensive view of social welfare from a policy perspective, including questions related to environmental degradation and public health, in order to scrutinize how urban gradients and urban spatial structures yield different consequences and affect residents in various ways. My first chapter explores how changing urbanization patterns in the United States influences air quality outcomes. Specifically, I seek to answer whether more compact forms of residential development result in better air quality relative to more sprawling patterns. I use spatially explicit data on air pollution and residential development, including over 6 million observations on new housing from tax assessment data, across large metropolitan areas to reveal a causal link between urban sprawl and air pollution from vehicle traffic. I find that compact cities experience a larger reduction in nitrogen dioxide and ozone compared with sprawling cities. In my second chapter, I explore the health benefits of urban green space. In order to better understand the impacts of urban green space on health outcomes, I examine the effects of city park area on mortality rates from cardiovascular disease among the elderly. I combine city park data with data on mortality rates, behavioral risk factors, and socioeconomic characteristics to conduct comparative case studies utilizing a synthetic control method. I select cities with significantly increased and reduced park area and examine how health benefits vary compared to cities where park area has not expanded. My results indicate that cities with increased park area experience a larger reduction in cardiovascular mortality for the elderly compared to their synthetic counterparts, although cities with reduced park area fail to show that there is a negative causal link between the reduction of parkland and cardiovascular mortality. In my third chapter, I study spatial variations in housing market resilience within and across U.S. metropolitan areas. I investigate how residential housing markets respond to the economic boom and bust periods before, during and after the Great Recession across urban, suburban, and exurban areas. Using over 15 million observations of housing sales across the largest 51 metropolitan areas of over one million population, this essay focuses on variations across census tracts to trace the path of housing prices at the neighborhood level. The results indicate that, relative to suburban and exurban areas, housing markets in urban areas were harder hit during the recession but recovered faster after the market crash. Urban and exurban housing markets within cities with high geographical restrictions fell to a similar extent during the bust. I also find that the West region was particularly volatile during this sample period.