Real Estate eJournal最新文献_第7页

How Do School District Boundary Changes and New School Proposals Affect Housing Prices 学区边界的改变和新学校的建议如何影响房价

Real Estate eJournal Pub Date : 2020-01-01 DOI: 10.2139/ssrn.3531436

Xiaozhou Ding, C. Bollinger, Michael Clark, W. Hoyt

引用次数: 3

Redrawing of a Housing Market: Insurance Payouts and Housing Market Recovery in the Wake of the Christchurch Earthquake of 2011 住房市场的重新绘制:2011年基督城地震后的保险赔付和住房市场复苏

Real Estate eJournal Pub Date : 2020-01-01 DOI: 10.2139/ssrn.3699240

Cuong Nguyen, Ilan Noy, D. E. Sommervoll, Fang Yao

{"title":"Redrawing of a Housing Market: Insurance Payouts and Housing Market Recovery in the Wake of the Christchurch Earthquake of 2011","authors":"Cuong Nguyen, Ilan Noy, D. E. Sommervoll, Fang Yao","doi":"10.2139/ssrn.3699240","DOIUrl":"https://doi.org/10.2139/ssrn.3699240","url":null,"abstract":"On the 22nd of February 2011, much of the residential housing stock in the city of Christchurch, New Zealand, was damaged by an unusually destructive earthquake. Almost all of the houses were insured. We ask whether insurance was able to mitigate the damage adequately, or whether the damage from the earthquake, and the associated insurance payments, led to a spatial re-ordering of the housing market in the city. We find a negative correlation between insurance pay-outs and house prices at the local level. We also uncover evidence that suggests that the mechanism behind this result is that in some cases houses were not fixed (i.e., owners having pocketed the payments) - indeed, insurance claims that were actively repaired (rather than paid directly) did not lead to any relative deterioration in prices. We use a genetic machine-learning algorithm which aims to improve on a standard hedonic model, and identify the dynamics of the housing market in the city, and three data sets: All housing market transactions, all earthquake insurance claims submitted to the public insurer, and all of the local authority’s building-consents data. Our results are important not only because the utility of catastrophe insurance is often questioned, but also because understanding what happens to property markets after disasters should be part of the overall assessment of the impact of the disaster itself. Without a quantification of these impacts, it is difficult to design policies that will optimally try to prevent or ameliorate disaster impacts.","PeriodicalId":21047,"journal":{"name":"Real Estate eJournal","volume":"3 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87156448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

The Effects of Designated Homeless Housing Sites on Local Communities: Evidence from Los Angeles County 指定无家可归者住房地点对当地社区的影响:来自洛杉矶县的证据

Real Estate eJournal Pub Date : 2019-12-28 DOI: 10.2139/ssrn.3513625

Elior Cohen

引用次数: 1

The Power of Words: A Study of How Search Contents Can Affect Financial Decisions 文字的力量:搜索内容如何影响财务决策的研究

Real Estate eJournal Pub Date : 2019-12-21 DOI: 10.2139/ssrn.3508053

Du Ni, Xingzhi Li, Zhi Xiao, Ke Gong

引用次数: 0

Financing Competitors: Shadow Banks' Funding and Mortgage Market Competition 融资竞争者:影子银行融资与抵押贷款市场竞争

Real Estate eJournal Pub Date : 2019-12-13 DOI: 10.2139/ssrn.3556917

E. Jiang

引用次数: 24

Assessment of the Challenges Facing Rental Housing in Lagos, Nigeria 尼日利亚拉各斯出租住房面临的挑战评估

Real Estate eJournal Pub Date : 2019-12-07 DOI: 10.2139/ssrn.3500132

Kamorudeen Lawal

引用次数: 4

Moving to Opportunity? The Geography of the Foreclosure Crisis and the Importance of Location 搬去机遇号?丧失抵押品赎回权危机的地理位置和位置的重要性

Real Estate eJournal Pub Date : 2019-12-01 DOI: 10.2139/ssrn.3162905

C. Makridis, M. Ohlrogge

引用次数: 6

Geographic Diversification in Real Estate Investment Trusts 房地产投资信托基金的地域多元化

Real Estate eJournal Pub Date : 2019-11-18 DOI: 10.1111/1540-6229.12308

Zhilan Feng, McKay Price, D. Ph., Webster A. Collins, Murray H. Goodman

{"title":"Geographic Diversification in Real Estate Investment Trusts","authors":"Zhilan Feng, McKay Price, D. Ph., Webster A. Collins, Murray H. Goodman","doi":"10.1111/1540-6229.12308","DOIUrl":"https://doi.org/10.1111/1540-6229.12308","url":null,"abstract":"Whether geographic diversification within property portfolios is ideal remains an open question, with most studies finding either a diversification discount or no evidence of benefits. Using a sample of equity real estate investment trusts (REITs) from 2010–2016, we find a nonlinear relation between geographic diversification and firm value. Specifically, geographic diversification is associated with higher REIT values for firms that can be described as being more transparent (i.e., they have high levels of institutional ownership or invest in core property types.) Whereas, geographic concentration is associated with higher REIT values for firms that can be described as being less transparent (i.e., they have low levels of institutional ownership or invest in non-core property types.) Operating efficiency, at both the property- and firm-levels, are the means by which the diversification value is realized. Operations improve as property portfolios become more geographically diversified for more transparent firms. When the improvements are decomposed into revenue generation and expense efficiency portions, we find revenue generation to be the main operational channel through which the benefits are obtained.","PeriodicalId":21047,"journal":{"name":"Real Estate eJournal","volume":"44 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-11-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83756788","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 34

Out of the Darkness: Re-Allocation of Confiscated Real Estate Mafia Assets 走出黑暗:重新分配没收的房地产黑手党资产

Real Estate eJournal Pub Date : 2019-11-17 DOI: 10.2139/ssrn.3488626

Filippo Boeri, Marco Di Cataldo, Elisabetta Pietrostefani

{"title":"Out of the Darkness: Re-Allocation of Confiscated Real Estate Mafia Assets","authors":"Filippo Boeri, Marco Di Cataldo, Elisabetta Pietrostefani","doi":"10.2139/ssrn.3488626","DOIUrl":"https://doi.org/10.2139/ssrn.3488626","url":null,"abstract":"In an effort to tackle criminal groups, the Italian State allows the confiscation of properties belonging to individuals convicted for mafia-related crimes and their reallocation to a new use. This policy is considered both as an anti-mafia measure and as a way to partially compensate the society for the harm made by the criminal organisations. Whether and how this measure has had an impact on the local areas where it is implemented, however, has not yet been investigated. We test the hypothesis that the policy contributes to the regeneration of urban spaces by assessing its impact on the value of buildings in the vicinity of confiscated/re-allocated properties. To this aim, we perform difference-in-differences analyses, both at the level of local housing markets and at the level of individual buildings, investigating the externalities of the policy across the whole Italian territory. The results unveil a positive and significant effect of re-allocations of confiscated real estate assets on house prices, declining with distance from the re-allocation site. The impact is larger in cities with stronger mafia presence and in more deprived neighbourhoods. This suggests that the policy contributes to add value to the territory where it is applied and favours processes of urban revitalisation. These findings have important implications for the development of deprived urban areas characterised by a strong presence of criminal organisations.","PeriodicalId":21047,"journal":{"name":"Real Estate eJournal","volume":"143 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-11-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80230025","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Learning from House Prices: Amplification and Business Fluctuations 从房价中学习:放大和商业波动

Real Estate eJournal Pub Date : 2019-11-01 DOI: 10.1093/RESTUD/RDAA079

R. Chahrour, Gaetano Gaballo

引用次数: 15