发布求助
文献互助 智能选刊 最新文献

The Journal of Real Estate Finance and Economics最新文献

筛选
英文 中文
Distressed Property Sales: Differences and Similarities Across Types of Distress 不良资产销售:不同类型不良资产的异同
The Journal of Real Estate Finance and Economics Pub Date : 2022-06-09 DOI: 10.1007/s11146-022-09911-2
M. Allen, Justin D. Benefield, Christopher L. Cain, Norman Maynard
{"title":"Distressed Property Sales: Differences and Similarities Across Types of Distress","authors":"M. Allen, Justin D. Benefield, Christopher L. Cain, Norman Maynard","doi":"10.1007/s11146-022-09911-2","DOIUrl":"https://doi.org/10.1007/s11146-022-09911-2","url":null,"abstract":"","PeriodicalId":22891,"journal":{"name":"The Journal of Real Estate Finance and Economics","volume":"16 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79762388","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
Changing the Scope of GSE Loan Guarantees: Estimating Effects on Mortgage Pricing and Availability 改变政府资助企业贷款担保的范围:估计对抵押贷款定价和可用性的影响
The Journal of Real Estate Finance and Economics Pub Date : 2022-06-08 DOI: 10.1007/s11146-022-09910-3
Alexei Alexandrov, Thomas S. Conkling, Sergei Koulayev
{"title":"Changing the Scope of GSE Loan Guarantees: Estimating Effects on Mortgage Pricing and Availability","authors":"Alexei Alexandrov, Thomas S. Conkling, Sergei Koulayev","doi":"10.1007/s11146-022-09910-3","DOIUrl":"https://doi.org/10.1007/s11146-022-09910-3","url":null,"abstract":"<p>Using a novel combination of mortgage datasets, we analyze the effects of two policy levers influencing the scope of Fannie Mae and Freddie Mac’s (Government-Sponsored Enterprises, GSEs) involvement in the U.S. residential mortgage market. First, we find that small changes in mortgage guarantee fees charged by the GSEs were essentially fully passed through to consumers, with limited effects on mortgage demand. This implies that small fee changes are primarily transfers between mortgage consumers and taxpayers while the GSEs remain in federal conservatorship. Second, the data suggest that marginally lowering maximum conforming loan size limits would cause most affected consumers to reduce their loan amounts to the new maximum. Our findings provide new detailed evidence on how GSE policy shapes mortgage availability and contrast the differing effects on consumers of two potential policy levers to reduce (or increase) the scope of GSE lending. Additional survey data indicate that borrowers’ shopping behavior and incomplete information may also influence the effects of GSE policy changes.</p>","PeriodicalId":22891,"journal":{"name":"The Journal of Real Estate Finance and Economics","volume":"16 5 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138538193","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: 0
The Valuation Effect and Consequences of Clawback Adoption in Real Estate Investment Trusts 房地产投资信托采用追回的估值效应及后果
The Journal of Real Estate Finance and Economics Pub Date : 2022-06-03 DOI: 10.1007/s11146-022-09909-w
Daoju Peng, Jianfu Shen, S. Fung, E. Hui, Kwokyuen Fan
{"title":"The Valuation Effect and Consequences of Clawback Adoption in Real Estate Investment Trusts","authors":"Daoju Peng, Jianfu Shen, S. Fung, E. Hui, Kwokyuen Fan","doi":"10.1007/s11146-022-09909-w","DOIUrl":"https://doi.org/10.1007/s11146-022-09909-w","url":null,"abstract":"","PeriodicalId":22891,"journal":{"name":"The Journal of Real Estate Finance and Economics","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79114177","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: 1
Relative Value vs Absolute Value: Housing Wealth and Labor Supply 相对价值与绝对价值:住房财富与劳动力供给
The Journal of Real Estate Finance and Economics Pub Date : 2022-04-29 DOI: 10.1007/s11146-022-09904-1
Xiandeng Jiang, Zheng Pan, Ningru Zhao
{"title":"Relative Value vs Absolute Value: Housing Wealth and Labor Supply","authors":"Xiandeng Jiang, Zheng Pan, Ningru Zhao","doi":"10.1007/s11146-022-09904-1","DOIUrl":"https://doi.org/10.1007/s11146-022-09904-1","url":null,"abstract":"","PeriodicalId":22891,"journal":{"name":"The Journal of Real Estate Finance and Economics","volume":"40 1","pages":"41-76"},"PeriodicalIF":0.0,"publicationDate":"2022-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81296429","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: 0
(A)Synchronous Housing Markets of Global Cities (A)全球城市同步住房市场
The Journal of Real Estate Finance and Economics Pub Date : 2022-04-28 DOI: 10.1007/s11146-022-09903-2
Vipul Bhatt, N. Kundan Kishor
{"title":"(A)Synchronous Housing Markets of Global Cities","authors":"Vipul Bhatt, N. Kundan Kishor","doi":"10.1007/s11146-022-09903-2","DOIUrl":"https://doi.org/10.1007/s11146-022-09903-2","url":null,"abstract":"<p>In this paper we examine house price synchronization in 15 global cities using real house price data from 1995:Q1-2020:Q2. We find that although there is evidence for bilateral positive phase synchronization, there is no evidence for an integrated global housing market for our sample of cities. Using a hierarchical clustering approach, we identify three clusters of cities with similar housing price cycles that are not solely determined by geographic proximity. We interpret this finding as suggestive of a rather segmented housing market for the global cities in our sample. Using a dynamic factor model with time-varying stochastic volatility, we decompose a city’s real housing price growth into a global component, a cluster-based component, and an idiosyncratic component. For most cities in our sample, the global component plays a minor role, whereas the cluster-based factor explains a large fraction of the observed variation in real house price growth, with its contribution peaking during the Great Recession of 2007-09.</p>","PeriodicalId":22891,"journal":{"name":"The Journal of Real Estate Finance and Economics","volume":"56 18","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138505796","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: 0
Long-Run Renewal of REIT Property Portfolio Through Strategic Divestment 透过策略性撤资，长期更新房地产投资信托基金物业组合
The Journal of Real Estate Finance and Economics Pub Date : 2022-04-27 DOI: 10.1007/s11146-022-09895-z
Masatomo Suzuki, S. Ong, Yasushi Asami, C. Shimizu
{"title":"Long-Run Renewal of REIT Property Portfolio Through Strategic Divestment","authors":"Masatomo Suzuki, S. Ong, Yasushi Asami, C. Shimizu","doi":"10.1007/s11146-022-09895-z","DOIUrl":"https://doi.org/10.1007/s11146-022-09895-z","url":null,"abstract":"","PeriodicalId":22891,"journal":{"name":"The Journal of Real Estate Finance and Economics","volume":"87 1","pages":"1-40"},"PeriodicalIF":0.0,"publicationDate":"2022-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83790605","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: 3
A Sentiment Index of the Housing Market in China: Text Mining of Narratives on Social Media 中国房地产市场情绪指数:社交媒体叙事的文本挖掘
The Journal of Real Estate Finance and Economics Pub Date : 2022-04-25 DOI: 10.1007/s11146-022-09900-5
Enwei Zhu, Jing Wu, Hongyu Liu, Keyang Li
{"title":"A Sentiment Index of the Housing Market in China: Text Mining of Narratives on Social Media","authors":"Enwei Zhu, Jing Wu, Hongyu Liu, Keyang Li","doi":"10.1007/s11146-022-09900-5","DOIUrl":"https://doi.org/10.1007/s11146-022-09900-5","url":null,"abstract":"","PeriodicalId":22891,"journal":{"name":"The Journal of Real Estate Finance and Economics","volume":"453 1","pages":"77-118"},"PeriodicalIF":0.0,"publicationDate":"2022-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82933246","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: 4
REITs’ Stock Return Volatility: Property Market Risk Versus Equity Market Risk 房地产投资信托基金的股票收益波动:房地产市场风险与股票市场风险
The Journal of Real Estate Finance and Economics Pub Date : 2022-04-15 DOI: 10.1007/s11146-022-09901-4
Lingxiao Li, B. Zhu
{"title":"REITs’ Stock Return Volatility: Property Market Risk Versus Equity Market Risk","authors":"Lingxiao Li, B. Zhu","doi":"10.1007/s11146-022-09901-4","DOIUrl":"https://doi.org/10.1007/s11146-022-09901-4","url":null,"abstract":"","PeriodicalId":22891,"journal":{"name":"The Journal of Real Estate Finance and Economics","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-04-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85560939","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
A Machine Learning Approach to Price Indices: Applications in Commercial Real Estate 价格指数的机器学习方法:在商业房地产中的应用
The Journal of Real Estate Finance and Economics Pub Date : 2022-04-09 DOI: 10.1007/s11146-022-09893-1
Felipe D. Calainho, Alex M. van de Minne, Marc K. Francke
{"title":"A Machine Learning Approach to Price Indices: Applications in Commercial Real Estate","authors":"Felipe D. Calainho, Alex M. van de Minne, Marc K. Francke","doi":"10.1007/s11146-022-09893-1","DOIUrl":"https://doi.org/10.1007/s11146-022-09893-1","url":null,"abstract":"","PeriodicalId":22891,"journal":{"name":"The Journal of Real Estate Finance and Economics","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89484385","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: 3
Geographically Overlapping Real Estate Assets, Liquidity Spillovers, and Liquidity Multiplier Effects 地域重叠房地产资产、流动性溢出与流动性乘数效应
The Journal of Real Estate Finance and Economics Pub Date : 2022-04-08 DOI: 10.1007/s11146-022-09905-0
Chongyu Wang, Jeffrey P. Cohen, John L. Glascock
{"title":"Geographically Overlapping Real Estate Assets, Liquidity Spillovers, and Liquidity Multiplier Effects","authors":"Chongyu Wang, Jeffrey P. Cohen, John L. Glascock","doi":"10.1007/s11146-022-09905-0","DOIUrl":"https://doi.org/10.1007/s11146-022-09905-0","url":null,"abstract":"<p>When liquidity providers for one asset obtain information from other asset prices, this may magnify the (upward or downward) comovement of asset liquidity. It also may yield an illiquidity multiplier (Cespa and Foucault, <i>Review of Financial Studies, 27</i>(6), 1615–1660, 2014). We empirically test the magnitude of this illiquidity multiplier for a sample of U.S. equity real estate investment trusts (REITs) using spatial autoregressive models (Zhu and Milcheva, <i>Journal of Real Estate Finance and Economics, 61</i>(3), 443–475, 2018). We find significant liquidity spillovers among REITs with geographically overlapping real estate holdings. Our findings suggest that the multiplier effect impacts neighboring REITs through cross-asset learning about firm fundamentals. This effect is stronger during market turmoil, after the Decimalization (a source of exogenous variation), and for REITs headquartered in MSAs with less information asymmetry.</p>","PeriodicalId":22891,"journal":{"name":"The Journal of Real Estate Finance and Economics","volume":"4 10","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138505750","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: 0
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信