Journal of Housing Economics最新文献_第10页

Land value estimation using teardowns 基于拆解的土地价值估算

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2022-12-01 DOI: 10.1016/j.jhe.2022.101874

Daniel McMillen , Ruchi Singh

引用次数: 2

Hedonic, residual, and matching methods for residential land valuation 住宅用地估价的享乐、残差和匹配方法

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2022-12-01 DOI: 10.1016/j.jhe.2022.101870

Steven C. Bourassa , Martin Hoesli

引用次数: 0

Special issue on land valuation: Introduction 土地估价特刊：简介

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2022-12-01 DOI: 10.1016/j.jhe.2022.101881

Daniel McMillen , Jeffrey Zabel

引用次数: 0

Discrimination against the atypical type of tenants in the Tokyo private rental housing market: Evidence from moving-in inspection and rent arrear records 东京私人租赁住房市场对非典型租户的歧视:来自迁入检查和拖欠租金记录的证据

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2022-12-01 DOI: 10.1016/j.jhe.2022.101879

Masatomo Suzuki , Kohei Kawai , Chihiro Shimizu

{"title":"Discrimination against the atypical type of tenants in the Tokyo private rental housing market: Evidence from moving-in inspection and rent arrear records","authors":"Masatomo Suzuki , Kohei Kawai , Chihiro Shimizu","doi":"10.1016/j.jhe.2022.101879","DOIUrl":"10.1016/j.jhe.2022.101879","url":null,"abstract":"<div><p>This paper documents the discrimination against the ‘atypical’ type of tenants in the Tokyo private rental housing market, using tenant-level records on the moving-in inspection process and future rent arrears, which go beyond previous experimental and audit studies on the availability of listing rental properties. We exhibit discrimination in that atypical tenants (e.g., single elderlies, single mothers, and foreigners) are likely to be rejected at the moving-in inspection, even after controlling for their estimated probability of getting into rent arrears using observable traits of individual tenants, including payment ability measures. This can be taste-based and/or statistical discrimination, the latter of which reflects the other potential costs for owners to accommodate atypical tenants, such as the risk of getting into trouble with neighbors. More specifically, statistical discrimination based on their high risk of rent arrears does not exist clearly, as much as the risk is explained by their observable traits, including their weak payment ability. Moreover, the study illustrates that the probability of acceptance at the moving-in inspection is reduced by unreasonable moving behaviors—a move to a place that does not require a moderate commuting distance, a move within the same community, and an increase in commuting distance than before, and in units with low rental costs.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"58 ","pages":"Article 101879"},"PeriodicalIF":2.4,"publicationDate":"2022-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45872616","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

What is the impact of macroprudential regulations on the Swedish housing market? 宏观审慎监管对瑞典房地产市场的影响是什么?

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2022-09-01 DOI: 10.1016/j.jhe.2022.101840

Mats Wilhelmsson

{"title":"What is the impact of macroprudential regulations on the Swedish housing market?","authors":"Mats Wilhelmsson","doi":"10.1016/j.jhe.2022.101840","DOIUrl":"10.1016/j.jhe.2022.101840","url":null,"abstract":"<div><p>Housing shortages and urbanization have led to higher house prices and higher levels of household debt. Sweden's Financial Supervisory Authority has introduced several borrower-based, macroprudential tools to control debt growth over the last ten years. In 2010, a mortgage loan-to-value (LTV) ratio was introduced, and in 2016, the amortization of 1 percent of the loan balance was mandated by law if a mortgage's value was higher than 50 percent of the property value. Furthermore, in 2018, the amortization requirement was tightened, as all households with a mortgage valued at larger than 4.5 times their annual income were forced to be amortized by 1 percent of the loan balance. The question is whether the Financial Supervisory Authority's macroprudential tools have exerted the intended effect. We combine a hedonic regression modeling approach with a regression discontinuity design (RDD) to estimate the causal impact on house prices. The effect of these macroprudential tools is estimated on the single-family housing market and the condominium market. We are using microdata of one million housing transactions between 2008 and 2019. Our estimates indicate that the amortization requirement in 2016 resulted in a negative impact of around 7 percent on housing prices but that a slightly lower impact resulted from the 2018 amortization requirement. The 2010 LTV ratio requirement did not impact the prices of dwellings.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"57 ","pages":"Article 101840"},"PeriodicalIF":2.4,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45489990","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Negative externalities of long-term vacant homes: Evidence from Japan 长期空置房屋的负外部性:来自日本的证据

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2022-09-01 DOI: 10.1016/j.jhe.2022.101856

Masatomo Suzuki , Kimihiro Hino , Sachio Muto

{"title":"Negative externalities of long-term vacant homes: Evidence from Japan","authors":"Masatomo Suzuki , Kimihiro Hino , Sachio Muto","doi":"10.1016/j.jhe.2022.101856","DOIUrl":"https://doi.org/10.1016/j.jhe.2022.101856","url":null,"abstract":"<div><p>Employing parcel-level data on vacant houses in a depopulating city in the Tokyo metropolitan area, we provide the evidence of negative externalities of long-term vacant houses that persist for several years. Ownership of a vacant house continues, whereas the level of maintenance declines; thus, the Japanese context enables us to simply capture the long-run impact of neglect, separate from the foreclosure stigma in the US context. We find that the externality spills over to approximately 50 m and that one additional long-term vacant house within 50 m pushes property transaction prices down by approximately 3%. We argue that the externalities come at least partly from the disamenity channel, since they are not observed for vacancies that disappear within one or two years. Externalities are observed from three years after the houses become vacant, which are, often not put on the housing market, and the externalities diminish around the time the vacancies finally disappear. We also show that externalities exist only in areas where nearby long-term vacant houses are not yet common, as their existence stands out in those areas. These results imply that reducing the number of long-term vacant houses will help mitigate disamenities in areas that have not yet experienced severe declines.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"57 ","pages":"Article 101856"},"PeriodicalIF":2.4,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92282045","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Building underwater: Effects of community-scale flood management on housing development 水下建筑:社区规模的洪水管理对住房发展的影响

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2022-09-01 DOI: 10.1016/j.jhe.2022.101854

Xian Liu , Douglas Noonan

引用次数: 1

Early effects of COVID-19 pandemic-related state policies on housing market activity in the United States 与COVID-19大流行相关的州政策对美国住房市场活动的早期影响

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2022-09-01 DOI: 10.1016/j.jhe.2022.101857

Barış K. Yörük

引用次数: 7

A spatiotemporal equilibrium model of migration and housing interlinkages 迁移与住房相互联系的时空平衡模型

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2022-09-01 DOI: 10.1016/j.jhe.2022.101839

Wukuang Cun , M. Hashem Pesaran

{"title":"A spatiotemporal equilibrium model of migration and housing interlinkages","authors":"Wukuang Cun , M. Hashem Pesaran","doi":"10.1016/j.jhe.2022.101839","DOIUrl":"https://doi.org/10.1016/j.jhe.2022.101839","url":null,"abstract":"<div><p>This paper develops and solves a spatiotemporal equilibrium model in which regional wages and house prices are jointly determined with location-to-location migration flows. The agent’s optimal location choice and the resultant migration process are shown to be Markovian, with the transition probabilities across all location pairs given as non-linear functions of wage and housing cost differentials, endogenously responding to migration flows. The model can be used for the analysis of spatial distribution of population, income, and house prices, as well as for spatiotemporal impulse response analysis. The model is estimated on a panel of 48 mainland U.S. states and the District of Columbia using the training sample (1976–1999), and shown to fit the data well over the evaluation sample (2000–2014). The estimated model is then used to analyze the size and speed of spatial spill-over effects by computing spatiotemporal impulse responses of positive productivity and land-supply shocks to California, Texas, and Florida. Our simulation results show that states with a lower level of land-use regulation can benefit more from positive state-specific productivity shocks; and positive land-supply shocks are much more effective in states, such as California, that are subject to more stringent land-use regulations.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"57 ","pages":"Article 101839"},"PeriodicalIF":2.4,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92339979","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Somebody that I want to know: The non-monotonic effect of personality information on ethnic and gender discrimination in the market for shared housing 我想知道的人:人格信息对共享住房市场中种族和性别歧视的非单调效应

IF 2.4 3区经济学

Journal of Housing Economics Pub Date : 2022-09-01 DOI: 10.1016/j.jhe.2022.101842

Raphael Moritz , Christian Manger

{"title":"Somebody that I want to know: The non-monotonic effect of personality information on ethnic and gender discrimination in the market for shared housing","authors":"Raphael Moritz , Christian Manger","doi":"10.1016/j.jhe.2022.101842","DOIUrl":"https://doi.org/10.1016/j.jhe.2022.101842","url":null,"abstract":"<div><p>We conducted a correspondence test to identify the determinants and extent of ethnic discrimination in the market for shared housing in Germany. We establish a link between information about an applicant’s personality and her performance in the housing market. About 2,000 fictitious applications with randomly assigned German-, or Turkish-sounding, female or male names, with or without additional personality information were sent to vacant room ads. While the callback rate for German-sounding names is 52 percent, it drops to 37 percent for Turkish-sounding names. Female applicants receive significantly more callbacks than their male counterparts. Additional personality information is particularly beneficial to the group with the highest callback rate (German females) and the group with the lowest callback rate (Turkish males). Thus, personality information reduce the ethnic gap between Turkish and German males, whereas the gap among females increases. A simple theoretical model shows that the strong effect of information on German females can be explained by aggregation over rooms that differ in market tightness. Moreover, advertisers who only accept applications of one particular gender discriminate significantly more against Turkish applicants.</p></div>","PeriodicalId":51490,"journal":{"name":"Journal of Housing Economics","volume":"57 ","pages":"Article 101842"},"PeriodicalIF":2.4,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"92230947","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0